Hungarian top flight club Diósgyöri VTK (DVTK) has announced plans to build a new 15,000-seat stadium on the site of its current home in the city of Miskolc.

In a statement, a spokesperson said the new stadium will cost HUF6.5bn (US$27m, €21m, £16m) to build and the club is expecting to move to the new venue in 2016.

As part of the project, the club will also build a new centre of excellence for youth players.

Exact details of the stadium facilities are to be confirmed later this year.

Tamas Szabo, managing director of DVTK, said: “Our goal is to make DVTK one of Hungary's dominant football teams in the not so distant future.

“For us to be able to compete in European competitions, it is necessary that we invest in our infrastructure – of which the youth centre is part of."

The mayor of Miskolc, Kriza Akos, said the development would not benefit just the club but the Miskolc region on the whole.