AC Milan, Inter complete €196m San Siro deal ahead of €1.3bn stadium project

AC Milan and Inter Milan have completed the €196 million acquisition of the San Siro Stadium and its surrounding district from the Municipality of Milan, marking a historic milestone toward demolishing the iconic venue and constructing a new, state-of-the-art arena.

The joint purchase, finalised through Stadio San Siro S.p.A., transfers ownership of the entire San Siro Great Urban Function, including the legendary Stadio Giuseppe Meazza, to the two Serie A giants.

The deal sets in motion the long-discussed plan to redevelop the area and build a modern 71,500-capacity stadium, designed by Foster + Partners and MANICA Architecture.

Valued at €1.3 billion, the redevelopment aims to transform the ageing San Siro district, largely untouched since the 1990 World Cup, into a vibrant sporting and cultural hub meeting the highest global standards for design, sustainability, and fan experience.

While construction of the new stadium gets underway, the current San Siro, Italy’s largest football venue, built in 1926, will continue to host AC Milan and Inter matches as well as the 2026 Winter Olympics opening ceremony. A portion of the historic second tier will be preserved as a heritage monument.

In a joint statement, both clubs described the deal as “a new chapter for the City of Milan,” reflecting the long-term vision of their U.S. owners, RedBird Capital Partners (AC Milan) and Oaktree Capital Management (Inter Milan).

“AC Milan and FC Internazionale Milano today announce the signing of the deed of sale with the Municipality of Milan for the acquisition of the San Siro Great Urban Function, including the Meazza Stadium and its surrounding area,” the clubs said.

“The construction of the new stadium and the urban regeneration project for the San Siro district represent a new chapter for the City of Milan and both clubs. This strategic milestone reflects the shared ambition of AC Milan and Inter and their respective owners for long-term sporting success and sustainable growth.”(BusinessDay)