Getty Images
- Milan and Inter reach agreement to purchase San Siro and surrounding land for €197m
- City council due to vote on deal later this month
AC Milan and Inter Milan’s plan to build a new shared stadium on the site of their San Siro home has taken a major step forward after the clubs reached an agreement to purchase the iconic venue and surrounding land.
The mayor of Milan, Giuseppe Sala, confirmed on Italian radio station RTL 102.5 that a deal is in place, pending final approval from the city council, which is due to discuss the transaction on 17th September before a vote on 25th September.
The Italian giants are reportedly set to pay €197 million (US$233 million), with the city of Milan covering some of the costs.
While Sala is in favour of the proposal, and hopes the new stadium can be completed by 2031 so it can host Uefa Euro 2032 matches, the majority of the council is said to be split.
Even if the council approves the sale, opponents who want to keep the San Siro intact could launch a series of appeals.
The future of the San Siro has been a drawn-out and uncertain saga. AC Milan and Inter Milan ditched plans to renovate the ageing ground last September in favour of building a new stadium in the same area.
Prior to that, Milan unveiled plans to build a new 70-000-seater venue and Inter were reportedly considered a site in Assago. The pair have played at the San Siro since 1926 and 1947 respectively.
Milan owner Gerry Cardinale said last year that he wanted to build a new home for the Rossoneri and create a company to also construct new stadiums for other teams in Serie A.
“We’re going to try to bring an American stadium in a live event entertainment campus to Milan,” added Cardinale. “Of all the cities in Europe, my premise of a merger partnership between sports and music and the live event for the fans, you would think that Milan would be the perfect place for that. And that’s what we’re going to endeavour to build.”
The last soccer venue to be built in Italy was in 2011, when Juventus opened their 40,000-seater Allianz Stadium in Turin.
Get access to richer content, exclusive reports, unparalleled business intelligence, and community benefits to help you navigate the next frontier of sport and make more informed decisions with a SportsPro+ Premium membership. Discover more here.