AC Milan and Inter Milan have confirmed the submission to the Municipality of Milan of an acquisition proposal for the Stadio Giuseppe Meazza, and a feasibility plan for a new stadium.
The two Serie A clubs entered the so-called Drafting of the Feasibility Document of Project Alternatives (DOCFAP) yesterday (Tuesday), stating the proposal, developed by “top professionals and industry experts”, reflects the strategic vision of the two clubs’ owners and “lays the groundwork for the creation of a landmark project that will serve as an international benchmark and bring significant benefits to the city of Milan and its residents”.
The impending entry of the DOCFAP was initially reported last month, with the two clubs stating they will now engage with the Municipality to “discuss and refine the details and distinctive elements of the proposal”, aiming to complete the acquisition process of the Meazza and surrounding land, for a reported fee of around €197m (£166.2m/$215.1m), by July.
The July date is crucial with protected status restrictions related to the venue otherwise known as the San Siro due to come into place. In May, the Municipality lost an appeal launched in October 2023 against a decision placing protected status on the Meazza, effectively impeding any sizeable redevelopment of the stadium.
This relates to the stadium’s second tier and towers, which were built in 1955 and under historical constraints related to public-owned property are due to be afforded protected status after 70 years, therefore later this year.
In the joint statement yesterday, Inter and Milan said their plan is integrated into a broader urban regeneration project that emphasises innovation, sustainability, and accessibility. The clubs added that the final concept and executive project may eventually be presented at a later stage and are not part of yesterday’s submission, however elements of their proposal have already emerged.
According to Il Sole 24 Ore, the DOCFAP sets out plans for a new 71,500-seat stadium, located adjacent to the existing Meazza, of which 13,000 seats will be for corporate and hospitality usage. The overall investment will be over €1bn, including the purchase of the Meazza and its redevelopment, along with the regeneration of surrounding land.
With the Meazza set to be used to host the opening ceremony of the 2026 Winter Olympic Games, development of a new stadium is expected to begin following the Games with a planned inauguration in 2030, allowing transformation of the Meazza to begin.
In terms of the vision for the Meazza, it has been previously reported that a transformation into a memorial museum venue is expected. This will reportedly see preservation of part of the Curva Sud, and the stand to its right, to create an ampitheatre-like structure that could host events. Club headquarters for Milan and Inter could also be incorporated into the site, along with potentially a hotel.
Commenting on yesterday’s announcement from the two clubs, the Municipality confirmed it had received the DOCFAP, adding it will “examine the filed documentation and then continue the administrative procedure”.
In November, the City Council of Milan approved a motion which will see the Meazza made available for sale, with an agreement aimed for July at the latest. The Council has valued the stadium and its land at €197m. The plot in which the San Siro lies makes up €124m of that figure while the stadium itself comprises the remaining €73m.
Earlier in the month, the Municipality confirmed receipt of an expression of interest from Milan and Inter to acquire their current home and the surrounding land in order to build a new stadium.
In October, Milan and Inter announced record revenues for the 2023-24 financial year, as representatives from the clubs also provided an update on their stadium plans. The financial results were released after the Municipality earlier revealed that the two clubs were interested in building a new stadium next to San Siro.
Milan and Inter in September rejected a proposal backed by the Municipality to redevelop San Siro, with the two clubs returning to the idea of a new stadium located close to the venue.
Up until September’s announcement, the clubs had effectively abandoned their original stadium plans and hopes of staying in the San Siro neighbourhood in favour of pursuing separate projects. Milan had targeted the San Donato Milanese neighbourhood, while Inter had set its sights on the Rozzano suburb of the city.
Following yesterday’s announcement, Inter president Giuseppe Marotta told Sky Italia: “We have filed this proposal for San Siro with great satisfaction. It is a very important act for the two clubs, which will contribute to the development of Milan. It is something extraordinary.
“The determination of (Inter owners) the Oaktree fund was very important, they immediately committed to this asset. The government promised a commissioner for the stadiums, we as Milan want to give an input to all the other cities that want a stadium. There will certainly be a new stadium, no renovation.”
Milan president, Paolo Scaroni, told the ANSA news agency: “It is an important step, but it is the first of a path in which nothing is taken for granted.
“What is certain is the will and determination of the two clubs in this direction, in which for Milan the strategic vision and the concrete commitment of (owners) RedBird was fundamental, which for stadiums has an international experience.
“It’s going to be a beautiful stadium. Modern, sustainable but also safe and accessible, ideal for everyone, families and children, for a truly healthy experience against all crime and violence. A green and innovative project for the benefit of the city and citizenship.”
