Fiorentina have clinched an agreement with Florence City Council to build a new stadium for the club in the Mercafir area of the city.
The club have been trying to agree such a deal for over two years and have finally secured the relevant permission to go ahead with the project.
The Viola will own their own stadium and the adjoining citadel will also be under the ownership of the club and the business model is said to be along the lines of the Juventus Stadium.
A price of €150 is being touted for the building of their new home and a non-Italian partnership will pay part of that cost.
There will be many commercial facilities on site as well as a hotel, offices, houses and neighbourhood shops.
The City of Florence and the club will work closely in conjunction with each other for the duration of the project.
Fiorentina have played at their current home, the Artemio Franchi, since 1931.
