Inter and Milan are the new owners of San Siro. Purchase operation valued at 197 million. On the horizon, a new stadium. Modern, finally. Economic engine of the clubs and the city. Investment planned for the new stadium of 1.2 billion. Norman Foster commands the project. Concerts, Champions League finals and Euro 2032.
The city of Milan chose to look to the future. The City Council approved the sale of the public land on which the Giuseppe Meazza Stadium (official name) is located after years of negotiations.
He understood that the project will be profitable for the city. It will attract investment. It will revalue the area. It will place Milan at the forefront of European and world football. And it will not only serve the “calcio” because it will become the nerve center that will host concerts and all kinds of events.
Once the sale is approved, there is only one more thing left to complete the transaction. The signing of the documents, a procedure that will have to be carried out before November 10, since that day the second amphitheater turns 70 years old and Italian law prevents its demolition if it remains public, something that would significantly complicate the works. Obstacle, in theory, controlled by all parties.
Private investment of 1,200 million
To build the new San Siro, an investment of at least 1.2 billion. It will be built next to the current one with American money. Oaktree and RedBird Capital, funds that own Inter and Milan, respectively, are the economic muscle of a giant work.
Urban regeneration project of approximately 281,000 square meters. Capacity for 71,500 spectators. A 15,000 square meter shopping center. Green areas in the surroundings. And the conservation of a part of the current stadium to dedicate it to offices and museums.
All under the tutelage and direction of the “Foster + Partners” and “MANICA” studios, directed respectively by Lord Norman Foster and David Manica, highly renowned architects with experience in the reconstruction of the Wembley Stadium area or the Chase Center, home of the Golden State Warriors.
Its final plans, with the design and first renderings of Milan’s new football home, are already being prepared. The work will begin in 2027 and finish in 2031, in time for the Euro Cup that Italy organizes together with Türkiye.
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The new San Siro unleashes the potential of the two clubs
The possibility that Milan would be left without Euro 2032 and that the 2027 Champions League final would be taken away from them were two very serious symptoms of the situation suffered by two historic clubs in world football. Delayed by Italian bureaucracy. Anchored by the antiquity of a historic venue, but which did not meet the demands of modern football.
“We are not competitive in Europe. At most, Inter and Milan have earned around 80 million euros each for the stadium in a season, while there are clubs that reach 300 million euros per season. The difference is too big and affects competitiveness,” warned Giuseppe Marotta, president of Inter, before the purchase was approved.
“In the last 10 years, 153 new stadiums have been built in Europe: 28 in Turkey, 23 in Poland, 16 in Russia and 12 in England… In Italy, only 3 facilities have been renovated, which represents 1% of the total. The data reflects how big the gap is,” stated the leader.
Now, Milan and Inter will raise much more with the new “Scala del Calcio”. And the Euro Cup, if everything continues as planned, will inevitably pass through Milan. With everything that entails in a city. Tourism. Investment. Advertising. Job.
Inter and Milan, in the select club of owners in Italy
The purchase of public land turns both clubs into privileged ones in the country, since there are few teams that have their own stadium. Atalanta, Juventus Turin, Udinese, Sassuolo are the only ones in Serie A. 20%.
The remaining 80%, teams like Roma, Lazio, Fiorentina, Genoa or Naples do not own the stadiums in which they play every weekend. In Serie B, Frosinone and Cremonese are the exception.
It is one of the big problems of Italian football. Their stadiums are old, they need renovation.
Inter and Milan are two giants that have had to join forces to be owners, to manage their own house, to relaunch their economy with a venue that generates profits with which they can compete more and better both in Italy and in Europe.
With information from EFE
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