AC Milan and Inter Milan Acquire San Siro: A New Era Begins

AC Milan and Inter Milan have acquired the San Siro stadium, marking a significant step towards its demolition and replacement with a modern facility. This redevelopment project, funded by major investment firms, faces scrutiny due to an investigation into alleged bid-rigging. The new stadium aims to enhance facilities for upcoming events.

AC Milan and Inter Milan have successfully acquired the iconic San Siro stadium as part of a plan to demolish the existing structure and build a modern facility, the clubs announced on Wednesday.

The acquisition, orchestrated by the clubs' owners, RedBird and Oaktree, engages architectural experts Foster + Partners and Manica to design a new stadium accommodating 71,500 spectators. This development is pivotal in upgrading Italy's soccer infrastructure, especially with the 2032 European Championship on the horizon.

While a judicial inquiry into potential bid-rigging has surfaced, the transaction's backers remain confident in its progression. The redevelopment project is supported financially by banking giants Goldman Sachs, JPMorgan, Banco BPM, and BPER Banca, underscoring the project's ambitious scale.

(With inputs from agencies.)