Four and a half years. To move from paper to construction site. A very long period in most advanced countries, but which represents the speed record for the approval of the project of a new sports facility in Italy. Celebrating it is Cantu Next, the consortium that using the vehicle of the stadium law n. 147 of 2013 promoted the construction of a latest generation multi-purpose arena with over 5 thousand seats and an adjacent commercial area. In October 2020 the feasibility study and the economic plan were deposited and in February 2021 the first unanimous green light from the City Council arrived. The construction site was opened a few days ago which will hopefully lead to the construction of the arena for the 2026/27 season in two years.
50 million operation
The overall cost of the operation is approximately 50 million with a form of public-private partnership which was able to count on the “direction” of the Institute for Sports Credit chaired by the current Minister for Sport and Youth Andrea Abodi (among the advisors of the project also Initiative, a company that in the last 10 years has supported over 130 partnership operations and over 40 in the sports facility sector). Ics acted as the leader of a pool of banks (Intesa San Paolo, BCC Cantù and Finlombarda) which made approximately 14 million available. The Lombardy region contributed 4 million and the municipality of Cantù 3 million. In January 2024, after the award of the tender called by the Province of Como, “Cantù Arena Spa” was established, a project company entrusted with the project financing which involves Cantù Next as promoters and partners of the concessionary company, as well as Gallerie Commerciali Bennet, Bennet, Acinque Innovazione (A2A group), Pichler Projects, MA.SI Group, Cobet, Nessi&Majocchi and Consonnistrade 2001 Srl
The concession
Pallacanestro Cantù (involved in the A 2 tournament with the aim of being promoted to the top Italian championship) will thus have a modern arena designed also thanks to the partnership with the ASM Global company (part of the Legends group), an international leader in the valorization of venue management indoor and outdoor. The concession has an estimated value of approximately 345 million euros and involves the construction of an arena with approximately 5,200 seats, a training field with an internal grandstand with 150 seats, an external court for 3-on-3 basketball, and a space multifunctional hall approved to host all indoor events, from volleyball to wheelchair basketball. The multifunctional nature of the structure will allow full use of the spaces for entertainment activities and extra-sporting events, such as concerts, conferences, trade fairs and cultural events. The intervention area will extend over a territorial surface area of 27,910 m2, and the structure will be developed on three levels with, in addition to the sports Arena, the presence of a commercial building (medium sales structure) and a building dedicated to catering, as well as a private car park for public use.
The other advisors
Together with Initiative, Studio Chiomenti acted as advisors for the operation, for the legal aspects with a team led by Marco Cerritelli, Studio Marelli & Brenna, as general/strategic and tax advisor with a team led by Stefano Marelli , the ABMVS Associate Law Firm of Como, the Todarelli & Partners Firm, the Vassallo Law Firm and the lawyer. Jakob Brugger of Studio Brugger & Partner and the notary Manfredi for the notarial profiles.
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