New €600mn San Siro to be rebuilt by 2023
Milan’s Giuseppe Meazza Stadium, popularly known as the San Siro, will soon be demolished to give way to a bigger and more modern stadium, to be built at a cost of €600mn, that Inter Milan and AC Milan are expected to use from around 2023, according to media reports.
The San Siro was built in 1926 and was overseen by the then AC Milan president Piero Pirelli. It now appears as though both the clubs are about to strike an agreement to build a new stadium with a capacity of more than 60,000.
The new stadium will likely have new sports and recreational facilities, apart from shopping centers. It will be built about 100 meters away from where the San Siro is, with the project expected to cost about €600mn.
Italy’s La Republicca newspaper reported that the municipal council has given a green signal to the project. The publication added that plans for the new stadium have already been approved by AC Milan and the local council, with Inter expected to give the project the green light in the near future.
Both Inter and AC Milan are expected to contribute a large portion of the construction costs, while naming rights will reportedly generate an additional €25 million (US$28.3 million) per year in revenue.
In addition to the new 60,000-capacity stadium, the project also includes a 5,000-seater venue for concerts and other events, along with a new shopping complex in the area surrounding the stadium.
The report also claims that this will be the most innovate stadium project in Europe. Recently, top officials from both Milan and Inter were on a trip to the United States with executives from Goldman Sachs to study the way stadiums like the MetLife have been built and maintained.
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