Turin, 18 June 2002. Juventus Football Club S.p.A. announces that a memorandum of understanding has been signed today with the City of Turin for the granting to Juventus of a long lease of the Stadio Delle Alpi and its adjacent areas.
This important agreement, obtained thanks to the commitment of the Mayor and his staff, ensures that Juventus will be able to stay in the city with its fans for the forthcoming season, to regenerate the surrounding area and to implement one of the two projects that will make it possible to transform the Company into a leisure group, as was indicated in the IPO.
In particular, Juventus Football Club S.p.A. and the City of Turin have undertaken to stipulate by 31 October 2002 a contract regarding the long term lease of the Stadio and adjacent areas for a period of ninety nine years, renewable on expiry.
The sum agreed has been set at €24 million, €6 million of which will be paid when the long lease is signed. The remaining € 18 million will be paid in nine constant annual instalments starting on 1 July 2003.
Juventus Football Club S.p.A. will therefore be able to use and restructure the stadium, including the approximately 17,000 m2 inside it to develop activities related to sport and football and to run events for fans. It will also have the right to build on surrounding areas to create 20,000 m2 of gross floor area for commercial activities (at least 17,000 m2 of which net retail area), and construct a multiplex cinema (on an area of 5,000 m2) and offices for Company headquarters (5,000 m of gross floor area).
Juventus Football Club S.p.A. has also undertaken to rent the Stadio to Torino Calcio S.p.A., for its home Championship and cup matches, until Torino Calcio S.p.A. has its own stadium available but not, in any case, after 30 June 2006. (juventus.com)
