Milan Clubs Secure San Siro, Advance New Stadium Plans

San Siro Acquisition: A Turning Point for Milan Football

AC Milan and Inter Milan have reached a pivotal milestone in their stadium redevelopment ambitions by officially acquiring the San Siro stadium and its surrounding land from the city of Milan. This agreement, finalized in early November 2025, lays the groundwork for a transformative project that will reshape the football landscape in Italy’s second-largest city.

Ownership Shift: From City to Club Control

The San Siro, known formally as Stadio Giuseppe Meazza, has been jointly owned by the city and used by both Milanese clubs since its construction in 1926. The recent acquisition transfers full ownership to AC Milan and Inter Milan, allowing the clubs to move forward independently with their vision for the site. Both clubs are currently owned by American investment funds—RedBird Capital Partners for AC Milan and Oaktree Capital Management for Inter Milan—reflecting the growing influence of foreign capital in Italian football.

Plans for Demolition and Modernization

With ownership secured, the clubs are now set to proceed with their long-discussed plan to demolish most of the existing San Siro and construct a new, modern stadium in its place. The new venue, designed by renowned architectural firms Foster + Partners and Manica, is expected to have a capacity of 71,500 spectators. This will make it one of the largest and most advanced stadiums in Europe, designed to meet the evolving needs of fans and the requirements of international competitions.

The redevelopment project encompasses more than just a football stadium. The clubs plan to transform the entire area into a vibrant district, featuring commercial spaces, residential buildings, and public amenities. This broader vision aims to create a year-round destination for both locals and visitors, contributing to Milan’s urban regeneration.

Balancing Heritage and Progress

The decision to demolish the San Siro has sparked considerable debate. The stadium holds a special place in Italian football history, having hosted countless memorable matches and events, including the 1990 FIFA World Cup and multiple Champions League finals. Local politicians and citizens’ groups have campaigned to preserve the iconic structure, arguing for its cultural and historical significance.

In response to these concerns, the clubs have committed to preserving a portion of the stadium’s second tier as a heritage element within the new development. This compromise seeks to honor the legacy of the San Siro while embracing the need for modernization.

Financial Backing and Strategic Partnerships

The acquisition and redevelopment are supported by a robust financial framework. Leading international banks Goldman Sachs and JPMorgan are providing key financing, working in partnership with Italian institutions Banco BPM and BPER Banca. This financial backing underscores the scale and ambition of the project, which is expected to require significant investment over several years.

The involvement of these financial institutions also reflects the broader trend of increased foreign investment in Serie A, as clubs seek to modernize their infrastructure and compete with Europe’s elite leagues.

Implications for Italian Football and Euro 2032

The redevelopment of the San Siro comes at a crucial time for Italian football. The country faces mounting pressure to upgrade its stadiums, many of which are outdated and lack modern amenities. With Italy set to co-host the 2032 UEFA European Championship alongside Turkey, there is a renewed sense of urgency to deliver world-class venues that meet UEFA’s standards.

The new Milan stadium is expected to serve as a flagship project, showcasing Italy’s commitment to modernizing its football infrastructure. In the interim, the existing San Siro will continue to host AC Milan and Inter Milan matches, as well as major events such as the opening ceremony of the 2026 Winter Olympics, until the new facility is completed.

Looking Ahead: Timeline and Expectations

While the clubs have not announced a definitive timeline for the completion of the new stadium, the acquisition of the land and the selection of architectural partners mark significant progress. The planning and approval process is expected to continue in the coming months, with construction likely to begin once all permits are secured and community consultations are concluded.

Both AC Milan and Inter Milan have expressed their commitment to engaging with local stakeholders and ensuring that the new development benefits the wider community. The project is poised to generate new jobs, attract investment, and reinforce Milan’s status as a leading football city.

Conclusion: A New Era for Milanese Football

The acquisition of the San Siro by AC Milan and Inter Milan represents a watershed moment for Italian football. As the clubs move forward with their ambitious redevelopment plans, they face the challenge of balancing tradition with innovation. The new stadium promises to deliver a world-class experience for fans and players alike, while the broader regeneration project will leave a lasting legacy for the city of Milan.

For further details, see reports from Reuters and Financial Times.