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By ESPN Staff

Genoa's Luigi Ferraris stadium up for auction

Genoa's Luigi Ferraris stadium will be put up for sale because of its increasing running costs, the company which runs the facility have announced.

The administration council of Sportingenova believe the sale of the Luigi Ferraris is the only option.

The stadium is 70% owned by local authorities while the remaining 30% is held by utility firm Amiu.

A statement from Sportingenova read: "The stadium's debit, which in 2007 was of half a million euros, coupled with the daily expenses of running it and the changes that will have to be made in order for the venue to be of UEFA standard, does not allow Sportingenova to continue to sustain the costs."

The Luigi Ferraris stadium is where Serie A clubs Sampdoria and Genoa play their home games.

Two years ago the stadium was valued at €38million.

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