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Following 15 years of abandonment, the Stadio Flaminio is set to be restored to its former glory through a multi-million-pound refurbishment. The historic stadium is preparing to resume hosting major sporting events after a decade-long absence from Six Nations action.

The Roman venue hosted Italian rugby from 2000 to 2011, with Scotland, Wales and England all competing at the iconic ground. However, the Stadio Olimpico's 2008 refurbishment led to the relocation of official Six Nations matches to the 70,000-strong arena, as the Stadio Flaminio was considered too small.

Serie Aclubs Roma and Laziohad previously utilised Stadio Flaminio as their home ground, but both relocated to the Olimpico. This left the ageing stadium to deteriorate through lack of use, though the situation looks set to shift in the future.

Laziounveiled proposals to redevelop the site and formally announced the scheme in February, with Rome's City Council holding the ultimate decision.

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Club president Claudio Lotito confirmed that financial arrangements are progressing, with LazioNews24 revealing that banks will supply 59 per cent of the overall investment - approximately £246m. This loan is anticipated to be repaid by the club through revenue generated by the new stadium.

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Internal supporters will furnish the remaining investment - totalling £415m - with shareholders themselves projected to contribute between £65m and £69m. Reports suggest that the funding will be secured by 2027, which marks when construction is scheduled to commence.

Lotito hopes the redevelopment will be finished by 2031 and aims to use it to stage Euro 2032, alongside Turkey, as one of Italy's main stadiums. At present, the run-down stadium can accommodate up to 30,000 supporters, but proposals are to double this capacity.

Speaking in February as per Wales Online, Lotito said: "We are working. We have presented the project, and we want to do serious things, for the good of the city."

Stadium DB reports that the fresh proposals are centred around 'two stadiums in one', with the historic 1960s 'bowl' restored as the lower tier. The modern canopy above will provide protection from the weather and blend effortlessly with the original design.

The entire stadium will be constructed to comply with UEFA Category 4 regulations, enabling it to host major sporting and entertainment events. It's understood that green spaces will feature in the design to filter pollution.

The original stadium first opened in 1959 and was renowned for its concerts long before it became a main venue for Six Nations fixtures. Stars like Bruce Springsteen, U2, Michael Jackson, David Bowie and Pink Floyd all performed on the stage during the 1980s and entertained 45,000-strong crowds.

While the Italian rugby stars have no immediate plans to leave the Stadio Olimpico, these renovations might change their minds. Lazio presently shares the Olimpico with Roma but could relocate to their new ground within five years.