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6h ago

Milan and Inter Complete €197 Million San Siro Purchase, Clearing Way for New 71,500-Seat Stadium

The €197 million purchase backed by global and Italian banks moves the 71,500-seat replacement forward under the scrutiny of a bid‑rigging investigation.

A general view of San Siro Stadium, which will host the opening ceremony of the Milano Cortina Winter Olympic Games 2026, in Milan, Italy, January 30, 2025 REUTERS/Claudia Greco
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Overview

  • AC Milan and Inter signed the deed to acquire San Siro and its surrounding land for about €197 million via Stadio San Siro S.p.A., with financing arranged by Goldman Sachs and J.P. Morgan alongside Banco BPM and BPER Banca.
  • The clubs appointed Foster + Partners and MANICA to design a 71,500-seat stadium and a wider redevelopment estimated at roughly €1.2 billion across about 28 hectares.
  • Closing the sale before November 10 avoided potential heritage protections on the stadium’s second tier that would have made demolition far more difficult.
  • Construction is planned to begin in 2027 with completion targeted before Euro 2032, after which most of the current Meazza is slated for demolition with a heritage portion retained.
  • The existing stadium will remain operational and is set to host the Milan‑Cortina 2026 Winter Olympics opening ceremony as prosecutors examine claims of bid‑rigging in the sale process.