Inter Milan and AC Milan Finalise San Siro Land Acquisition

Inter Milan and AC Milan advanced towards building their dedicated stadium on Wednesday by finalising the purchase of the famous San Siro site, which faces demolition.

The pair of Serie A teams revealed the execution of the sales agreement with Milan Municipality, shortly after the city endorsed the land buyout where the venue stands.

Known as footballs La Scala, San Siro ranks among the globes most famous arenas and serves as the enduring base for Inter and AC Milan, who collectively boast 10 European titles.

The clubs secured permission to acquire the property for 197 million euros (231 million dollars) following more than 11 hours of discussion and a tight vote at Milan city council in the early morning of September 30.

The transaction had to conclude by the upcoming Monday, or else a preservation mandate for the San Siros second level would activate.

With this done, the teams can proceed with a scheme valued at about 1.2 billion euros to transform an area spanning just over 28 hectares (70 acres) in a bustling district on Milans western edge.

A contemporary 71,500 seat stadium will rise on adjacent land, presently used for game day parking and a recreational green space, right next to the existing one that will remain operational until the fresh build finishes.

After the new facility opens, the old San Siro will see near total demolition to create expanded greenery, commercial offices, and leisure options, all crafted by architects Foster and Partners along with MANICA.

The sides aim to complete the venue in preparation for Euro 2032, planned as a co hosted event between Italy and Turkey.

Italys football authority must notify UEFA of its five chosen stadiums for the competition by October next year, allowing proposals for novel sites or renovations provided construction starts by March 2027.

The existing San Siro will stage the launch event for the forthcoming Milan Cortina Winter Olympics on February 6.