MILAN: Italian champions Juventus gained the right to develop a home stadium on Tuesday, ramping up their dream to build a sporting business empire to rival Manchester United and Real Madrid.

Juventus, Italy's most successful club with a clutch of Serie A trophies, wants to capitalize on its brand to build itself into a leisure company, considered a more stable investment than a straight soccer club. Chief Executive Antonio Giraudo said the club had signed a long-awaited 25 million-euro deal with Turin city council for a 99-year lease of the Delle Alpi stadium and the right to revamp it as well as roll-out cinemas, sports centres and offices around it.

Soccer clubs and the empires they build are big businesses.

Real Madrid snatched soccer ace David Beckham from Manchester United this month not only for his ball skills but also for the power his rock-star image has to crack open the wealthy Asia market for merchandise and other sales.

Juventus, which boasts Edgar Davids and Alessandro Del Piero among its ranks, has lagged the leading pack because the stadium in its present form has never won the affection of fans and is often almost empty.

The revamped stadium will hold 30,000-40,000 people, half its current capacity to turn up its exclusivity and bring fans closer to the game. The club also hopes 200 executive boxes, with space for 2,000 guests, will help boost revenue.

As well as the 25 million euro (US$28.3 million) lease, Juventus will pay 110 million euros to remodel the stadium, which should open by 2006.

Another 130 million euros will go towards an entertainment complex to lure football fanatics and foes alike with a multiplex cinema, shops and a leisure centre.

Agencies via Xinhua

(China Daily 07/17/2003 page8)