Milan and Inter Milan plan to submit a formal application to build a new 70,000-seat stadium
The Italian Federal Revenue valued the San Siro stadium and its area in Milan at €197 million. The website released the information on Wednesday (6.Nov.2024), after Inter Milan and Milan, the city’s clubs , expressed interest in purchasing the site and requested documents from the City Hall. The project includes the construction of a new stadium and the renovation of the San Siro.
The clubs plan to submit a formal application to the Tax Office to access the documents. This step is necessary for them to review the data and assess the viability of the project. The proposal involves preserving the current structure of the San Siro from the second level downwards, in addition to building a new stadium on the site of the former Palazzetto dello Sport, an indoor arena in Rome, with a capacity for 70,000 people. The update of the technical and economic feasibility study, carried out 2 years ago, should be completed in around 4 months.
Once the necessary investment has been defined, clubs will be able to present a binding purchase offer. The objective is to close an agreement by next summer in the northern hemisphere (June to September). Mayor Beppe Sala expressed optimism about the project’s completion, calling it “last chance” for clubs to confirm their interest.
Furthermore, the San Siro project has implications for Milan. The sale of the stadium will finance investments in public housing and improvements in the area. Resuming the process started in 2019 offers time and financial advantages, including public debate and City Council recommendations.
