YEREVAN — Next Gen Sports, in collaboration with Juventus FC, will open a new football academy in Yerevan.
A bill developed by the State Property Management Committee on granting property rights to Next Gen Sports for Hrazdan Sports Complex through a direct sale was approved at the Cabinet during its Thursday session.
Furthermore, the bill also envisages privatization of the Hrazdan Stadium.
The Armenian government has approved the privatization of the state-owned Razdan Sports Complex through a direct sale during its Thursday session. The decision involves the transfer of the complex to Next Gen Sports LLC for a period of 25 years.
This transfer, which includes buildings covering 4,949.3 square meters, a 444.5-meter-long fence, and a football field of 6,664 square meters, will be made at no cost to the company. Next Gen Sports LLC has an agreement with Juventus Football Club to establish a football academy in Yerevan for preschool-aged children, committing to invest 1 billion AMD (over $2.5 million) over five years.
This move follows Juventus’ announcement in April 2024 of its intention to open a football academy in Armenia, marking a significant investment in the development of youth football in the country.
