November 5 — Milan, Italy: AC Milan and Inter Milan have finalised the long-anticipated purchase of the iconic San Siro Stadium and its surrounding district from the Municipality of Milan for €196 million, marking a historic turning point for both clubs and for Italian football.
The agreement, completed through a joint entity called Stadio San Siro S.p.A., officially transfers ownership of the entire “San Siro Great Urban Function” area — including the legendary Stadio Giuseppe Meazza — to the two Serie A giants. It represents a critical milestone in their shared vision to redevelop the site and construct a new, state-of-the-art stadium that will define the next generation of Milanese football.
A new era for Milan’s sporting landscape
The proposed redevelopment, designed by world-renowned architects Foster + Partners and MANICA, aims to transform the ageing San Siro district — largely untouched since the 1990 World Cup — into a vibrant, sustainable hub for sport, culture, and community life.
Early estimates place the total project cost at around €1.3 billion. The plan includes not just a modern stadium that meets the highest global standards for design, comfort, and environmental performance, but also green spaces, entertainment facilities, and mixed-use developments intended to revitalise the surrounding neighbourhood.
In a joint statement, both clubs hailed the agreement as “a new chapter for the City of Milan,” emphasising that the purchase underscores the long-term strategic vision of their US ownership groups — RedBird Capital Partners (AC Milan) and Oaktree Capital Management (Inter Milan).
“The future San Siro complex will redefine the urban space through innovation, sustainability, and accessibility,” the statement read. “It will blend Milan’s rich footballing heritage with a bold, forward-looking approach to infrastructure and fan experience.”
Financing and next steps
Funding for the acquisition and initial stages of development has been secured through Goldman Sachs and J.P. Morgan, acting as co-lead arrangers, alongside Italian partners Banco BPM and BPER Banca.
While the historic San Siro — home to both clubs since 1926 — will continue to host matches in the short term, today’s deal formally begins a new era. Once completed, the new stadium is expected to become not just a home for Milan and Inter, but a landmark of modern architecture, symbolising the city’s enduring passion for football and its drive toward a sustainable, global future.
