AC Milan chairman Paolo Scaroni is hopeful that work on a new shared stadium for the club and cross-city rival Inter can begin by 2022.

The Serie A clubs are planning on building a new stadium on the site of its current home, the Stadio Giuseppe Meazza, which is also known as San Siro. In November last year, Milan and Inter were reported to have received the support of global finance giants JP Morgan and Goldman Sachs for the shared stadium.

It came after the clubs filed a feasibility study and new economic and financial plan with Milan’s authorities in which they sought to resolve concerns laid out by city chiefs regarding the revamp of San Siro.

It was reported at the time that the investment in the project, which will centre on a 60,000-capacity stadium, is expected to be $1.25bn (£920m/€1bn) split equally between the two clubs and the definitive go-ahead could arrive between October and November this year.

In January 2019, the clubs presented new plans for the future of the stadium, outlining how the venue would be transformed into a destination for sports and entertainment events. The clubs had previously said they were prepared to work on alternative proposals for the San Siro but maintained their discomfort at retaining the stadium as a venue for professional sports if a new facility is developed.

The city council gave plans for a new stadium a “conditional yes” in October 2019, with assurances needed on regeneration plans for the San Siro before the proposal is given the all-clear. The development came after the two clubs announced in September 2019 that Populous and Manica/Sportium had been shortlisted to design a new stadium that they would share.

“The timing that I hope for the construction of a new stadium is that the city council approves the project that we have proposed immediately after the elections and which contains the 16 amendments that they had asked us for a year ago,” Scaroni said.

“After that, the detailed design process will last six months and then the construction will start. I hope that by 2022 we will start working concretely on the construction.”

The stadium complex will also feature a running track, skate park, five-a-side football pitch and basketball court, as well as green space, retail, sports, cultural and leisure activities.

Scaroni, who was speaking at the ‘Milan per tutti’ event, has also called for larger capacities to be permitted at Serie A stadiums this season. Stadiums are currently restricted to 50% capacity due to COVID-19 regulations but Scaroni feels this should be increased to “at least 75%”.

Image: Populous