Inter and Milan Secure San Siro Stadium Ownership with Initial Payment

Bassyonni

ago 3 hours

Inter and Milan Secure San Siro Stadium Ownership with Initial Payment

Milan and Inter have officially acquired ownership of San Siro Stadium, marking a significant change after nearly 90 years. This transaction involved a total investment of €197 million, which includes a €22 million discount from the City of Milan.

Details of the Acquisition

This morning, the purchase agreement was finalized between the two clubs and the municipality. Milan and Inter made an initial payment of €73 million to the city, which is part of a loan exceeding €90 million secured from international banks, including Goldman Sachs and J.P. Morgan.

The acquisition includes not only the stadium but also the surrounding areas. The final payment will reflect the city’s contribution for urban enhancements near the stadium, specifically for the refurbishment of the Patroclo tunnel and land remediation.

Key Figures Involved

AC Milan President: Scaroni
Inter Board Member: Katy Ralph
Chief Financial Officer (Milan): Cocirio
Chief of Staff (Inter): Massimiliano Catanese

Future Plans for San Siro

Both clubs aim to develop a new world-class stadium that meets international standards, reflecting their ambitions for long-term sports success. Foster + Partners and Manica have been appointed as the architectural firms to lead this project.

Their vision includes creating a new urban excellence hub that emphasizes sports and cultural identity while fostering sustainability and accessibility within the San Siro district and Milan as a whole.

Challenges Ahead

Despite the progress, opposition to the stadium’s demolition and the construction of a new facility remains. Legal disputes are expected in the coming months, particularly regarding accusations of auction disruption being investigated by the Milan Prosecutor’s Office.

Promoter Claudio Trotta, among the founders of the “Sì Meazza” committee opposing the new construction, expressed his intent to bid for the stadium but felt unable to participate due to inadequate timelines set forth by the municipality.