March 13, 2017 / 3:14 PM / 4 months ago

Atletico agree land deal with Madrid council for new stadium

2 Min Read

Atletico Madrid have agreed a price tag with local authorities to buy the land where their new stadium is being built, the mayor's office said on Monday.

Atletico will play from the start of the 2017-18 season at the new Wanda Metropolitano stadium, which will have a capacity of 67,000 - an increase of 12,000 over their current home, the Vicente Calderon.

They are competing against the Olympic Stadium in Baku, Azerbaijan for the right to host the 2019 Champions League final at the Wanda Metropolitano.

The land deal carries a price take of 30.4 million euros ($32.4 million) plus interest, and Atletico have agreed to spend an additional 29.8 million euros on developing the surrounding area of the city, including over 4,000 public car park spaces.

The cost was adjusted to reflect the fact that the club are acquiring about 50 percent more land than envisaged under the original deal, drawn up in 2008.

It has also been agreed that the stadium will not be used in any future Olympics hosted by Spain, with Atletico retaining exclusive use.

($1 = 0.9379 euros)

Reporting by Rik Sharma; editing by Mark Trevelyan

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