Roma reveals plans for new privately financed stadium on outskirts of the Italian capital

Three-time Serie A champion Roma plans to build a privately financed stadium inspired by the Colosseum on the outskirts of the Italian capital.

Labeled Stadio della Roma until naming rights are sold, the facility would seat 52,500 spectators and be able to expand to 60,000 for major matches.

Building costs for the stadium are estimated at 300 million euros ($414 million), with the overall price higher when infrastructure and transport are included.

The stadium would be in the Tor di Valle area in the city's southwest, about halfway between downtown and Fiumicino airport.

Roma hopes to open the venue for the 2016-17 season. The club is owned by a four-man group of Boston executives, who in 2011 became the first foreign majority owners of a Serie A club.