New San Siro: Addendum to the feasibility study and a new financial plan

MILAN – Building upon the joint press release with the City of Milan and tireless ongoing work, AC Milan and FC Internazionale Milano filed today an addendum to the feasibility study and a new financial plan for the new San Siro stadium and renewed community hub. The filing fulfils City Board Resolution 1905 of 8 November 2019, which reflected the constructive input of City Council, as expressed in its 28 October 2019 vote.

The ambitious project envisages the construction of a new state-of-the-art stadium, as well as the repurposing of existing Meazza stadium, which will become the cornerstone of a brand-new Sports and Entertainment District.

Many of the activities envisaged in the project (including a running track, a cycle track, an open-air gym, a skateboard park, a climbing wall, a zip line, and the sports museum) will be free-of-charge for visitors, citizens, residents, schools, health facilities, and local cultural associations, under affiliation agreements with the City of Milan.

The updated design scheme honours the most cherished elements of the current Meazza stadium, allowing the beloved site to serve the community for generations to come.

As agreed with the City, the new proposal envisages a significant reduction in real estate volumes compared to the initial proposal, for a total of 145,000 sqm of SL, equivalent to a building index of 0.51 sqm/sqm.

The City Board Resolution already affirmed that the proposal presented by AC Milan and FC Internazionale Milano for the development of the San Siro area serves the public interest. The Resolution included a series of additions that the City Council believed would further advance the public interest, and with the submission of today’s addendum, each of these proposed conditions has been satisfied and incorporated into the update project. Today’s filing marks an important step forward. The documentation filed today will be reviewed by the technical offices of the City of Milan, which will then be in a position to issue a new unconditioned declaration of public interest.

In the months ahead, the Clubs will prepare detailed design drawings, at considerable expense, in preparation for the final stage of approval: the declaration of public utility, in which the Clubs look forward to engaging with the City of Milan, the Lombardy region, and all other stakeholders in support of this exciting project.

AC Milan and FC Internazionale Milano are honoured to present to Milan and the wider region a project of paramount importance, which has become even more critical amidst a tumultuous year marked by economic and public health crises. The Clubs look forward to moving ahead with this new project in Milan, generating thousands of new jobs, revitalizing the city, and making the most of an extraordinary opportunity for the City of Milan and Italian football.