Clarifications regarding the Serravalle B construction site

In order to dispel any doubt arising from fanciful accounts concerning the cash advance approved last night by the San Marino institutions, it should be made clear that the amount of €500,000 has been authorised with the aim of resuming work at the Serravalle B construction site as soon as possible. It is no secret that the public facility to be built will be owned by the Most Excellent Chamber of the Republic of San Marino and financed in toto through investments by the FSGC and UEFA. Thanks to its affiliation with UEFA, the FSGC is able to access funds earmarked for projects involving the construction of new infrastructure dedicated to football and futsal activities in the country. The total cost of the project, in the pre-pandemic phase, amounted to €14 million. Of this, €9 million were allocated by UEFA, while the remaining €5 million come from FSGC reserves and from the prior allocation of future UEFA funds intended for infrastructure. Unfortunately, as we are all aware, global markets have been hit by a significant increase in the cost of raw materials, which has in turn driven up the costs of the Serravalle B construction site to a total of €16 million (+€2 million compared to the original project). Having regained and defended its position before the competent judicial authorities, as confirmed by the recent ruling of the San Marino Court, the Football Federation moved swiftly with UEFA, obtaining further support in the form of a grant of €1 million to offset the increased costs of completing the infrastructure. Given the continuing impossibility for the companies involved to resume work and the simultaneous and unavoidable impasse for the FSGC in accessing a bank loan, the San Marino institutions found themselves at a crossroads: either provide an advance of €500,000 – which the FSGC will repay as soon as the new cycle of UEFA contributions is distributed to the affiliated federations – or leave an already active construction site at a standstill, with the very real risk of jeopardising work that has long been planned. In this respect, we believe that the political decision has rightly gone in the direction of protecting a developing public asset, which will be owned by the State and involves San Marino businesses. The use of the facility itself – in particular the underground car park – will be available to the public, except during major sporting events. It is worth recalling, for those who do not know or have forgotten the dynamics of San Marino football and its relationship with international institutions, that the FSGC budget is sustained almost entirely by solidarity contributions from FIFA and UEFA. Taking out a loan from credit institutions would in practice have tied up funds originating from the international bodies which, alongside the FSGC itself, have fully supported the Serravalle B project, as well as all the other football facilities built over the years in the Republic – all owned by the Most Excellent Chamber. A final thought goes to the San Marino sports federations, which were inappropriately cited in a confused account. Their commendable and invaluable work in sports planning, the result of tireless energy and countless sacrifices, as well as the lasting results they have achieved, should not be used as a blunt instrument in political disputes.

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FSGC