The Milan City Council have approved the sale of the iconic San Siro Stadium to Serie A giants AC Milan and Inter Milan, which paves the way for the two clubs’ plans to demolish the existing structure and replace it with a new one, Afrosport reports.
The San Siro has been the home of AC Milan since 1926, while it has also housed their rivals, Inter, since 1947. The Milan Municipal Government has owned it since the Nerazzurri began using it.
It has not been modernised since it was revamped for the 1990 FIFA World Cup hosted by Italy.
The sale of the stadium was approved following a lengthy vote in the City Council that lasted for 12 hours after back-and-forth debates.
The sale is potentially worth €197 million and will now await confirmation by the Milan Municipal Government
Both Inter and AC Milan see the new development as a historic and decisive step for the future of the clubs and the city, as they plan to build a new 71,500 capacity stadium that is part of a regeneration project and have already tasked architectural firms Foster and Partners as well as Manica with the new design.
It is also hoped it will be ready in time for the Euro 20232 championship, which Italy will co-host with Turkey.
