Jovetic’s €100m new stadium, on the outskirts of Milan, is the priciest stadium in the Premier League and the first in Serie B.
But its value has been under pressure since the new stadium’s completion last year and the Italian FA has now decided to ban it from future European competitions.
The FA’s ban was agreed in the wake of the €2.5bn stadium’s €30m debt payment to creditors.
Its €50m loan repayment was also deemed to be insufficient and the stadium was subsequently closed down by the state.
The decision has been criticised by supporters, who argue that the move to a bigger venue will reduce the financial burden of the clubs in the future.
However, the stadium’s owners, the Italian Sports Investment Company (ASIC), argued the decision was necessary to improve stadium safety, including by reducing noise and other distractions.
“The construction of this stadium has made it more dangerous for spectators, because of the high number of fans and spectators, who are travelling,” the company’s chairman, Antonio Mattotti, told Corriere dello Sport.
“We have been very clear that this is a project that will not be profitable for the investors.
The stadium will be closed down if the stadium becomes an arena for football.”
The stadium’s closure has been condemned by a number of supporters groups, including those of the city’s local football club, Venezia Milan, as well as the Football Association of Italy, which has been pressing the club to close it.
“Venezia has always been a club with a strong commitment to the development of football in the city and in the region,” a club spokesman told Corr.
“We have always supported the development and growth of Venezias football club and the new Veneziacal stadium.
We will continue to support the development efforts of the club.”
However, some in the football community are concerned about the stadium and its future plans.
“I am very happy to see that the stadium is open, but I think the fans and the city need to take the stadium further to make it a safe place,” the club’s president, Mario Mandl, told the newspaper.
“It is a good step to open it and show the public the new facilities.
It will not happen overnight. “
There is nothing to be afraid of here.
I have to say this: the stadium will have to be closed if the new facility is to be a safe facility.””
The fans need to be kept safe.
I have to say this: the stadium will have to be closed if the new facility is to be a safe facility.”