Finance Corner: The Project for a New San Siro Stadium in Milan

Inter and Milan have filed an integration to the feasibility study and the new economic and financial plan concerning the project for a new San Siro Stadium in Milan, thus responding to the requests of the Municipality of Milan.

The project,” reads the joint note of the two clubs “aims at building a new stadium with the highest international standards and at refurbishing the current Giuseppe Meazza facility, with the creation of a modern, sustainable, and beneficial Sports and Entertainment District of citizenship.

The documentation registered on 6 November will now be subject to a verification of technical compliance by the municipal offices. Following this investigation, the City Council will be able to confirm their public interest. In the coming months, the clubs should thus prepare the final project required for final approval.

In this new feasibility study, Milan and Inter confirmed their interest in building a sporting, recreational, and cultural district. Many of the sports activities included in the plan – which will be  both outdoor or indoor – will be free or agreed with the Municipality.

The district will also include a pedestrian area of ​​approximately 220,000 square meters, and the public green spaces in the area are expected to double from 56,000 to 106,000 square meters. According to the clubs’ proposal, the iconic elements of the current Giuseppe Meazza facility and the San Siro area will be maintained and re-adapted within the new district.

Comparing to the initial Project, the integration features a significant reduction in ancillary volumes for a total of 145,000 square meters of gross surface area, equivalent to a building index of 0.51 square meters / square meter.

The first feasibility project was presented in July 2019. It proposed the construction of a new facility with approximately 60,000 seats and a multi-functional district dedicated to sport, shopping and entertainment, which could be a meeting place for citizens, fans and tourists 365 days a year and give employment to over 3,500 people.

Construction works are expected to be financed via private investments for over 1.2 billion euros, in exchange for 90 years of Surface rights, to be awarded through a public competition in which the two proponents clubs will have a right of first refusal.


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