The Serbian government proposes a monumental $205.5 million refurbishment for Belgrade's iconic Rajko Mitić Stadium, aiming to elevate its stature in European football and continue its legacy of hosting historic football moments.

Belgrade's stadium makeover: Big plans ahead?

On September 19, SeeNews reported that the Serbian government is proposing a bill to the parliament, seeking permission to secure a loan of 22.4 billion dinars (equivalent to $205.5 million or €191.2 million) for infrastructural improvements at Belgrade's primary stadium complex. The financing institutions mentioned in the proposed legislation are Banka Postanska Stedionica and UniCredit Bank. As detailed in the bill displayed on the parliament's official online platform, the interest terms are structured at 3.30% in addition to a fluctuating component pegged to the six-month BELIBOR.

Interest is expected to be settled biannually. Additionally, the borrowing terms include a two-year grace period followed by a nine-year repayment term. Local news sources have pointed out that the Serbian government's broader goal is to channel 350 million euros into erecting a stadium with the capacity to accommodate 60,000 spectators. The construction responsibilities for this massive project have been entrusted to PowerChina, a renowned Chinese construction company.

© Jörg Pochert

The rich history and significant moments

Rajko Mitić Stadium, colloquially known as Marakana, is a multi-use stadium in Belgrade, Serbia, and has been the home ground of Red Star Belgrade since 1963. Located in the Dedinje municipality of Savski Venac, the stadium was renamed in December 2014 in honor of the club's former player and legend, Rajko Mitić. Originally known as the Red Star Stadium, it boasts a seating capacity of 53,000, making it the largest stadium in Serbia by capacity.

Rajko Mitić Stadium has been the stage for numerous memorable football events. Among the most significant was the European Cup final in 1973. The stadium has also witnessed record-breaking attendances over the years. On April 23, 1975, during the Cup Winners Cup semi-final home leg against the Hungarian side Ferencváros, the stadium saw an official attendance of 96,070 spectators. However, it is believed that the stadium was filled to its maximum allowable capacity at the time, which was 110,000. Another standout moment in the stadium's history was Ajax's 1–0 defeat of Juventus, which drew an impressive crowd of 91,564 spectators. The fans flocked to see European football legends of the day such as Johan Cruijff, Fabio Capello, José Altafini, and others.

© Jörg Pochert