Media: Milano-clubs closing in on deal to demolish stadium and build new £516 m San Siro
6 March 2019
An Italian daily newspaper reports that Inter and AC Milan will construct new stadium by 2023.
The new stadium will replace current San Siro and have fewer seats.
According to the Italian newspaper La Repubblica, the two Serie A rival clubs FC Internazionale Milano and AC Milan have agreed to demolish their historic home stadium San Siro and build a new one only a few hundred meters away by 2023.
The new stadium will cost about £516 million, and according to the newspaper, the plans for the stadium have already been approved by AC Milan and the local council. Furthermore, Inter is expected to give their go to the project in the nearest future.
Both Inter and AC Milan are expected to contribute with a large portion of the construction costs, while naming rights will reportedly generate an additional £21.5 million per year in revenue.
What matters is the experience for the fans, it might be a smaller stadium but an excellent one
La Repubblica also revealed that the design of the new San Siro is based on the 82,500-seater MetLife Stadium in New York City, which serves as the home of the NFL teams Giants and Jets.
The new stadium will have a capacity of 60,000. The project also includes a 5,000-seater venue for concerts and other events, along with a new shopping complex in the area surrounding the stadium.
Compared to the current stadium, the new San Siro will have 20,000 fewer seats, but there is a reason for that.
“We envisage a smaller capacity because the average attendance of the two clubs is 60,000,” Inter chief executive Alessandro Antonello told reporters last month. “What matters is the experience for the fans, it might be a smaller stadium but an excellent one.”
Inter and AC signed a memorandum of understanding back in November vowing to work together on either modernizing the San Siro or building a new stadium. It was then revealed in February that the two clubs were eyeing up a smaller, modern venue which would improve the matchday experience for supporters.
Both teams have played at the Giuseppe Meazza Stadium, commonly known as the San Siro, for more than half a century, with AC Milan having had the venue as their home since 1926, and their city rivals Inter since 1947.