AC Milan and Inter Milan issued a joint statement today, officially announcing the acquisition of the San Siro/Meazza Stadium. And said that it has entrusted the firm to design the new stadium.
[Original announcement]
AC Milan and Inter Milan Football Club have completed the acquisition process of the entire San Siro/Meazza urban functional area
AC Milan and Inter Milan Football Club announced today that the two parties have signed a sales document with the Milan Municipal Government on the acquisition of the entire San Siro urban functional area, which includes the Meazza Stadium and surrounding land.
The construction of the new stadium and the urban renewal project of the San Siro area will open a new chapter for the city of Milan and the two clubs. This important milestone reflects the ambition shared by the Milan duo and their respective owners, the funds managed by Redbird Capital and Oaktree Capital, to pursue long-term competitive success and create value through this investment to support the sustainable growth of both clubs.
The club has entrusted Foster + Partners and MANICA Architects to be responsible for the design and development of the world-class new stadium and the surrounding area master plan. The new stadium will meet the highest international standards and is destined to become a new architectural landmark for the city of Milan.
Within the framework of this project, a new center of excellence will be born, which will reflect the pursuit of sports and culture of the San Siro community and the entire city, and will reshape this urban space with the concepts of innovation, sustainability and barrier-free access as its core.
This transaction was completed through San Siro Stadium Co., Ltd. and received syndicated financing support arranged by Goldman Sachs and JPMorgan Chase as the main coordinators. The club’s cooperative banks, Banco Balambo and BPER Bank, also participated in this financing.
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