The main sponsor of football club FC Utrecht wants to buy the club for one euro, the Telegraaf reports on Tuesday. Houten-based property firm Phanos wants to double the club’s budget and build a new stadium with a capacity of 50,000.

In return for the capital injection, Phanos wants the right to develop some 20 hectares of land around the new stadium and to build offices and housing on the site of the present stadium, the paper says. The plan is to be discussed by Utrecht city council officials on Tuesday.