AC Milan’s owners said on Thursday they will build a 70,000-capacity new stadium for the seven-time European champions that will serve as a multi-purpose venue.
Milan and local rivals Inter, both of whom play at the historic San Siro stadium, are indeed considering options to construct their individual stadiums on the outskirts of the city. The San Siro stadium, owned by the local authority, has been the iconic venue for both clubs for decades. However, there have been discussions and explorations regarding the construction of new stadiums for each club.
Building separate stadiums would allow both AC Milan and Inter Milan to have facilities tailored to their specific needs and requirements. Additionally, it could provide an opportunity for revenue generation through modern amenities, increased seating capacity, and potentially enhanced commercial opportunities.
Moving to new stadiums could signify a significant shift for both clubs and could have implications for the future of the San Siro stadium itself. It’s worth noting that any decision to construct new stadiums would involve various stakeholders, including the clubs, local government authorities, and possibly private investors.
Overall, while the exploration of new stadium options reflects the ambition and growth aspirations of AC Milan and Inter Milan, it also marks a potential transition in the football landscape of Milan.
Last week the Milan city authorities said they still wanted to work with both clubs on a possible revamp of the San Siro.
Gerry Cardinale, the founder and managing partner of RedBird Capital, which took control of Milan in 2022 in a 1.2 billion euro ($1.3 billion) deal, said Italy’s economic capital was the perfect location for a music and entertainment venue as well as a world class stadium.
“We’re going to try to bring an American stadium and live event campus to Milan,” Cardinale told the Financial Times’ Business of Football Summit in London.
“Of all the cities in Europe, a merger between sports and music and live events for the fans, you would think Milan would be the perfect place for that and that’s what we will endeavour to do.
“That should be great not only for Milan that should be good for Italy and Serie A.”
Cardinale added he hoped to create a company capable of building many more new stadiums for Italian clubs.
Serie A has become popular with American investors in recent years and many are keen to move away from publicly-owned stadiums to boost the revenue streams of clubs.
Former Milan striker Zlatan Ibrahimovic, who is now working as an operating partner for Cardinale’s RedBird, said it was time for a “new beginning” for the club.
