AC Milan & Inter get green light to demolish San Siro and build new stadium after council approves €197m sale

At 3:45 a.m., the Milan City Council voted to approve the sale of the San Siro and its surrounding areas to AC Milan and Inter. The decision passed with 24 votes in favour and 20 against after a marathon session. The council’s approval was required following the mayor’s agreement to sell the land to the two clubs for €197 million (£167m/$225m). The plan aims to have the new stadium ready by 2031, in time for the European Championship the following year.

A statement from both clubs read: "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. 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 plan to invest around €1.2 billion (£1bn/$1.4bn) to not only build a new stadium but also create a recreational area for fans. The development has been divided into five zones, which will include the stadium, a museum, shops, hotels, football fields, and more. AC Milan and Inter have entrusted two architectural firms with the project: Foster & Partners for urban planning and Manica for the stadium’s construction. Once completed, the redeveloped San Siro area is expected to generate €3.1 bn in economic growth, €1.4bn in GDP, and create 16,350 jobs by 2035.

The construction of the new stadium will involve the demolition of most of the iconic Stadio Giuseppe Meazza. Around 91 percent of the stadium including the first and third tier stands and part of the second tier will be removed. The remaining sections will be preserved and redeveloped creating a park and pedestrian pathways for visitors.

With Milan and Inter working for nearly 10 years to have their own stadium, the City Council's approval brings both clubs one step closer to realising their plans. Meanwhile, Inter host Slavia Praha on Tuesday and the Rossoneri are next in action against Juventus at the weekend.