After new Maracana and the Olympic stadium it's time for Vasco da Gama football club. Their new venue is to hold 43,000 people and will be ready in 2015 or 2016, Associated Press reports.

Current Sao Januario dates back to 1927 and needs to be replaced. Especially if Vasco, among Brazil's most popular clubs, is to compete in terms of matchday revenues with all the clubs getting new venues ahead of 2014 World Cup.

Vasco are also planning for a large event, but it's the 2016 Olympics in their case. The club have time until next Wednesday to deliver the project to the local Olympic organizing committee, which will then decide whether to approve the idea and give the club the go-ahead to start planning the construction. It should commence in mid-2013, but is dependant on Maracana's redevelopment, because Vasco need to use the larger stadium during reconstruction at their home.

"We've wanted to improve our stadium for quite some time and the Olympics give us a great opportunity to finally do it," club chief executive officer Luiz Gomes told The AP. "We will have the arena ready for the rugby competition in the 2016 Olympics and after that we will have a completely new stadium for the team."

The horseshoe-shaped Sao Januario was built in 1927 in the Maracana region and was the main football venue in Rio de Janeiro until Maracana was built for the 1950 World Cup. It's the stadium where star striker Romario scored his 1000th career goal while playing for Vasco in 2007. It's also remembered for a fence collapsing in the 2000 Brazilian league final, when more than 150 fans were injured.

The only part of the stadium which won't be destroyed for the new arena is the facade, which is considered a historic monument and can't be brought down.

Vasco doesn't say how much the new stadium will cost. Gomes said the club will finance about 60 percent of the costs and investors and sponsors will pay for the rest. The city of Rio de Janeiro has already said it will do infrastructure work to improve conditions around the new Sao Januario, especially to create better access routes and to add public transportation options.