Italian Serie A football team Atalanta has purchased its home stadium from the local authority and revealed its intention of redeveloping the antiquated venue.

A contract between the football club and the Municipality of Bergamo has been agreed for the for the sum of €8.6m (£7.8m, US$10.1m), plus a further €2.3m (£2.1m, US$2.7m) for improvement works that were carried out in 2015.

Further work will be done in the shape of an extensive redevelopment, to make the 21,000-capacity Stadio Atleti Azzurri d’Italia “modern and welcoming”.

The plan for the works will be unveiled within the next six months, said the club.

“The stadium has always been the home of Atalanta and the Atalanta fans,” said club president Antonio Percassi.

“It is a great pleasure to finally become the owner as well. This is a fundamental step for the present and the future of our club. Today Bergamo makes history. We have made a great investment with the goal of making the stadium more modern and welcoming to fans.”

The current stadium has limited seating and is made up mostly by standing areas.

Atalanta had a stellar Serie A season last year, finishing fourth in 2016/17 ahead of both Milan clubs.