Inter and AC Milan have received the green light for their acquisition of the San Siro area in a groundbreaking decision that could spell the end for their legendary stadium. The Serie A powerhouses are planning to pump £1billion into constructing a state-of-the-art new stadium alongside a comprehensive redevelopment of the surrounding district. Mayor Beppe Sala took the momentous step of agreeing to sell the land to both clubs, with Milan City Council subsequently giving their backing to the proposal.
The £167million sale was sealed in the early hours of Tuesday morning, with the motion securing approval by 24 votes to 20. “AC Milan and FC Internazionale Milano express their satisfaction with the City Council’s approval of the sale of San Siro and the surrounding area: a historic and decisive step for the future of the clubs and the city,” the two teams said in a statement. “While awaiting the official announcement of the outcome of the council debate, the clubs look with confidence and responsibility to the next steps in the process that will lead them to build a new stadium that meets the highest international standards: a world-class facility destined to become a new architectural icon for Milan and a symbol of the passion of football fans around the world.”
The clubs are targeting 2031 for the completion of their new stadium, perfectly positioned for the European Championship the following year. The ambitious project will encompass the stadium itself, alongside a museum, retail outlets, hotels and football pitches.
The iconic San Siro is set for a major transformation, with plans to demolish around 91 per cent of the current structure. The first and third tier stands, along with part of the second tier, will be removed, while the remaining sections will be preserved and incorporated into a new park and pedestrian pathways.
Renowned architectural firms Foster and Partners and Manic have been entrusted with the redevelopment project. Foster and Partners will oversee urban planning, while Manic will handle the stadium’s construction.
The revamped area is projected to create over 16,000 jobs by 2035, contribute £2.7billion to economic growth, and add £1.2bn to GDP.
However, the sale of the area must be finalised before November 10. After this date, the San Siro’s second tier will gain historical significance as it turns 70, making it more challenging to demolish.
Italian media outlets have raised concerns about potential future profiteering from the land sale, given that both Inter and AC Milan are owned by US investment funds. The clubs have previously threatened to construct new stadiums outside the city if their proposal was rejected.
Despite these changes, the San Siro remains a symbol of global football. Built in 1925, it is Italy’s largest stadium, boasting a capacity of 80,000.
Its importance continues to resonate, as it is slated to host the opening ceremony of the 2026 Winter Olympics.