One of Europe’s most iconic football stadiums is set for demolition. This is because Inter and AC Milan have reached a contract to acquire the San Siro area with plans to build a new stadium on the site.
Inter and AC Milan have seen the acquisition of the San Siro area, approved by the decision to destroy the iconic stadium. The Serie A Giants are planning to invest £1 billion to build new stadiums and broader transformations in the region.
Mayor Beppe Sarah made the historic decision to sell the land to two clubs, and the Milan City Council has now approved it. The £167 million sale went over the line as it passed with 24 and 20 votes against 24 and 20 votes early Tuesday morning.
“AC Milan and FC Internationaleon Lumilan are expressing their satisfaction with the city council’s approval for the sale of San Silo and its surrounding areas. It is a historic and decisive step for the future of the club and the city,” the two teams said in a statement.
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“While waiting for the official announcement of the results of the Council’s discussion, the club is confident and responsible for the next step in the process of building a new stadium that meets the highest international standards.
The ambition is to prepare a new stadium for 2031 in time for the following year’s European Championships. Developments include stadiums, museums, shops, hotels and soccer fields.
It also means that San Siro will no longer exist as it is now. Approximately 91% of the ground will be demolished. The stands and part of the second tier in the first and third tiers have been removed, and the remaining sections are saved by creating parks and pedestrian paths.
The former is responsible for urban planning, while the latter is responsible for the construction of the stadium, and the latter is tasked with leading the redevelopment. The region is expected to generate more than 16,000 jobs, economic growth of £2.7 billion and GDP of £1.2 billion by 2035.
Sales in this area must be confirmed by November 10th. At that point, the second tier of Sansilo will turn 70 and assumes its historical significance as it becomes more difficult to destroy.
According to Italian media, the land could be sold for profit in the future, with Inter and AC Milan both owned by US investment funds. The side has previously threatened to build a stadium outside the city if the plan is rejected.
Sansilo is one of the most iconic stadiums in world soccer. The ground was built in 1925 and is Italy’s largest stadium with capacity of 80,000 people.
That also retains its importance, and is scheduled to hold the opening ceremony for the 2026 Winter Olympics.
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