Media: Inter and AC Milan hire Goldman Sachs as advisor on new £516m stadium

15 March 2019

San Siro goldman sachs inter milan ac milan new stadium
Photo: Getty Images The Goldman Sachs building is seen in lower Manhattan on April 15, 2016 in New York City. The american investment bank will work closely with AC Milan and Inter Milan on the new San Siro-project.

As the two major Serie A clubs reportedly have agreed to build a new San Siro stadium, an Italian newspaper reveals that they engage Goldman Sachs as advisor.

The American investment bank is reportedly hired as advisor to help with various matters.

Peter Høyer ph@offthepitch.com

The Italian daily business newspaper Il Sole 24 Ore reports that the major Serie A clubs Internazionale and AC Milan engaged the financial services giant Goldman Sachs six months ago. According to the newspaper, the clubs engage Goldman to get advisory services on the construction of their new stadium on financial as well as operational matters.

It has also been reported that club officials – including AC Chief Executive Ivan Gazidis and Inter equivalent Alessandro Antonello – have recently been to the US to meet with representatives from Goldman Sachs to discuss the construction of the new stadium.

This follows a news piece from Italian newspaper La Repubblica, which recently reported that the two Serie A rival clubs had agreed to demolish their historic home stadium San Siro and build a new only a few hundred meters away by 2023.

AC Milan has approved

The new stadium will cost about £516 million, and according to La Repubblica, the plans for the stadium have already been approved by AC Milan and the local council. Furthermore, Inter are expected to give their go to the project in the nearest future.

Goldman Sachs has worked on numerous stadium projects in recent times, playing a similar role with National Football League (NFL) team, the San Francisco 49ers, in the construction of their Levi Stadium. In Europe, the company was engaged by English football club Tottenham Hotspur for their new home, as well as AS Roma, another Italian football team, for extra funding.