Milan and Inter have reached an agreement! Contract signed for San Siro Stadium
Italian First Football League (Serie A) teams Milan and Inter announced that they have signed the contract for the purchase of the San Siro Stadium and the surrounding area, which was approved for sale by the City of Milan in September.
"Inter and Milan today announce the signing of the sale agreement with the Municipality of Milan for the purchase of the 'San Siro Major Urban Development Area', which includes the Giuseppe Meazza Stadium (San Siro) and its surroundings. The construction of the new stadium and the urban regeneration project for the San Siro area represents a new era for the city of Milan and for both clubs."
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In the joint statement, it was stated that this important step reflects an investment vision that aims to create value to support the sustainable growth of both clubs:
"The new stadium will meet the highest international standards and will become a new architectural landmark for the city of Milan. The project will create a center of excellence that will reflect the sporting and cultural identity of the San Siro neighborhood and the entire city, revitalizing the urban area in line with the principles of innovation, sustainability and accessibility."
It was also noted that the operation was carried out under the main coordination of international financial institutions Goldman Sachs and JP Morgan, with financing provided by the clubs' banking partners Banco BPM and BPER Banca.
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The Milan City Council had approved the sale of the San Siro Stadium and its surroundings to the two clubs in a vote held on September 29.
Meanwhile, the Italian ANSA news agency reported that the Milan Public Prosecutor's Office has launched an investigation into the sale of the ownership of the San Siro Stadium for approximately 197 million euros on suspicion of bid rigging.
San Siro Stadium
The San Siro Stadium, also known as Giuseppe Meazza Stadium, which was first opened in 1926 and has been developed with additional stands and renovations until today, currently has a capacity of 75,800 spectators.
It is known that Milan and Inter want to build a more modern stadium to replace the aging San Siro.The reconstruction of San Siro is also important for the 2032 European Football Championship (EURO 2032), which Italy and Turkey have decided to co-host.
Both international and Italian football authorities emphasize that Italy must renovate its stadiums for the hosting of EURO 2032.
UEFA President Aleksander Ceferin, in an interview with the Italian Mediaset channel on May 6, harshly criticized Italy, saying, "You are one of the biggest football countries, you have won countless World Cups, European Championships and Champions Leagues, but you have the worst infrastructure. I'm tired of these discussions, it's time to take action."
