ROME (AFP) – AC Milan and Inter Milan have launched their bid to knock down the iconic San Siro and build a new 60,000-capacity home on the same site, the Serie A giants announced on Wednesday.
“Today, AC Milan SpA (AC Milan) and FC Internazionale Milano SpA (FC Internazionale) filed with the Municipality of Milan the ‘Technical and Economic Feasibility Study’ for the new Milan stadium and its multifunctional district,” the clubs said in a joint statement.
The proposal is the first step towards construction of a new ground adjacent to the current San Siro, while the old stadium will make way for an area “dedicated to sports, entertainment, and shopping”.
The two clubs say that the project will require investment of EUR1.2 billion (USD1.34 billion) and lead to jobs for 3,500 people.
Eventual approval from the city for the proposal filed on Wednesday would give a preliminary green light and mean Milan and Inter would then have to provide a “definitive plan” which would also have to be approved before any building could begin.
The proposal also said it was not possible to renovate the existing San Siro.