By Michael Nsikan Richard – November 5th, 2025
Acquisition Completion – November 5th, 2025
Italian media outlets, Sempre Milan and Milan Reports, have reported that AC Milan and Inter Milan have officially completed the acquisition of the San Siro area from the Municipality of Milan, signing the deed of sale for what is termed the “San Siro Great Urban Function,” which includes the historic Giuseppe Meazza Stadium and its surrounding area.
This monumental step formally transfers control to the two clubs and represents a landmark moment in the long-running saga of stadium ownership that has spanned several years.
Historical Context
This acquisition comes after years of uncertainty and alternative plans. The clubs had initially proposed this joint stadium project in 2018 but faced numerous delays and rejections from local and national authorities.
Both clubs explored building separate stadiums outside Milan’s city limits before returning to the San Siro option.
The successful completion of this acquisition marks the resolution of these prolonged negotiations and establishes a clear path forward for both Milan clubs to modernize their home venue while remaining at the historic San Siro site.
Transaction Details
Fox Sports reports that the deal was valued at €197 million ($226million) and the timing was critical as it needed to be finalized before November 10, 2025, when the stadium’s second tier would have taken on historical significance (having been completed 70 years ago on that date), making demolition virtually impossible.
According to Milan Reports, the transaction was completed through Stadio San Siro S.p.A., with financial support from international banking institutions, Goldman Sachs and J.P. Morgan serving as co-lead arrangers, alongside the club’s banking partners Banco BPM and BPER Banca.
Ownership Structure and Vision
The strategic milestone reflects the shared ambition of both clubs and their respective owners, Redbird (AC Milan) and funds managed by Oaktree (Inter Milan), for long-term sporting success and value-enhancing investment to support sustainable growth.
The clubs have operated as co-tenants of San Siro since 1947, and now they will jointly own the property and develop it together.
New Stadium Project Plans
Sempre Milan reports that the clubs have entrusted Foster + Partners and MANICA with the design and development of a new world-class stadium and the master plan for the surrounding area, which will meet the highest international standards and is intended to become a new architectural icon for Milan.
The new venue will have a capacity of 71,500 seats and will be part of an urban regeneration project covering approximately 281,000 square meters, focused on innovation and sustainability.
Construction Timeline
Football Italia reports that works are expected to commence in the first half of 2027 and be completed by 2031, with most of the current Stadio Meazza expected to be demolished between 2031 and 2032.
The new stadium will be built adjacent to the existing Meazza rather than in its exact location, allowing both clubs to continue playing at San Siro during construction.
The timing is strategically aligned with Italy co-hosting the 2032 European Championship with Turkey, as Fox Sports reports that the San Siro in its current state is not considered modern enough for UEFA to approve it for hosting tournament matches.
NEW: AC MILAN AND INTER MILAN JOINT ACQUISITION OF THE GIUSEPPE MEAZZA STADIUM
