AC Milan and Inter Milan have completed the purchase of the San Siro site, taking control of the stadium and surrounding land from the city to clear the way for demolition and a new nearby arena.

The plan is to deliver a stadium ready for Euro 2032, with design and construction guided by Foster + Partners and MANICA to meet top international standards and become an architectural icon for Milan.

The project foresees a nine to twelve month core design phase led by the architects, with a target completion of the new stadium around 2031 and construction set to begin in early 2027.

The asset is expected to add value and boost matchday revenue through improved services, while acknowledging challenges in monetizing TV rights, particularly foreign rights, and the need to bridge with international markets.

The redevelopment will generate visitor and ancillary revenue from around 500,000 annual visitors, with about 5 million euros from club museums, ample parking, and additional income from marketing and commercial spaces, totaling roughly 10 million euros.

Naming rights will be auctioned by the end of 2026, using benchmarks from major clubs, while local comparisons may be misleading until then.

Estimated total project cost is about 1.5 billion euros, with corporate hospitality forming a significant portion of ticketing and the plan to host year‑round events beyond football.

United’s leadership is collaborating with Foster + Partners as master planner but has not committed to an engineering contract, signaling potential scheduling coordination challenges.

Financing for the acquisition and development is led by Goldman Sachs and J.P. Morgan, with Banco BPM and BPER Banca acting as banking partners.

Banking packages position the deal at roughly 197 million euros for the site, with clubs receiving loans and the city contributing part of the cost.

The sale price paid to the city council for the site was 197 million euros.

The project aims to boost the surrounding district through enhanced hospitality, safety, and quality, potentially setting a reference point for the region and re‑qualifying the neighborhood.