Milan’s two rival football clubs, AC Milan and Inter Milan, have finalized the acquisition of the iconic Giuseppe Meazza Stadium, known as San Siro, from the city, paving the way for its demolition and replacement with a new facility.
The successful purchase clears the path for the clubs to advance their plans for a modern, 71,500-seat arena.
This critical deal was concluded just ahead of a November 10 deadline. Had it passed, a 70-year-old section of the stadium would have gained historical protection, effectively blocking any future demolition.
The clubs aim to have their new venue ready to host matches for the 2032 European Championship. Italy is co-organizing the tournament with Turkey.
The acquisition of the San Siro and its surrounding area cost the clubs approximately $197 million.
In a joint statement, the clubs announced they had signed the purchase agreement for “the San Siro Urban Masterplan, which includes the Meazza Stadium and its surroundings.”
They further stated that “the construction of the new stadium and the urban renewal projected for the San Siro district represent a new chapter for the city of Milan and for both clubs.”
Despite plans for its replacement, the current San Siro is still scheduled to host the opening ceremony of next year’s Winter Olympic Games in February.