City rivals AC Milan and Inter Milan have today (Friday) announced the signing of a Memorandum of Understanding (MoU) in which the two Serie A football clubs will work together on a stadium project.

The two clubs said a joint taskforce has been established to analyse all options, including a brand-new stadium or renovating the iconic San Siro. The clubs aim to conclude an initial evaluation phase by the end of the year, in order to commence the technical and administrative activities required to deliver a modern stadium in the shortest possible timeframe.

Milan and Inter said they met yesterday (Thursday) with the Mayor of Milan, Giuseppe Sala, stating the talks reopened a “constructive and productive dialogue” with the objective of examining in more detail the option of redeveloping the area around the San Siro.

In a joint statement, the two clubs added: “An infrastructure adapted to current standards is paramount to delivering a world-class fan experience, as well as on-and-off-the pitch success.

“The clubs believe that a shared stadium will serve in the best interests of all stakeholders from a financial, administrative and technical perspective, and are evaluating several possible options, including a complete renovation of the existing San Siro Stadium.”

The San Siro first opened in 1926 and has undergone several renovations, most notably for Italy’s staging of the 1990 FIFA World Cup. AC Milan has called the stadium home since it opened, while Inter started using the San Siro in 1947. However, its long-term future has been the subject of much debate in recent years.

Indeed, in July the Milan city council said the 80,000-capacity San Siro would undergo a major renovation project costing approximately €15m ($17m/£13.1m) over the next few years. The council added that all of the work should be complete by June 2020, with the renovated stadium to be ready in time for the 2020-21 football season.

Image: Jose Luis Hidalgo R.