AC Milan and Inter have reached an agreement to build the new stadium with the demolition of the San Siro stadium, also known as Giuseppe Meazza.
According to the Italian newspaper, La Gazzetta dello Sport, the two clubs will move to demolish the San Siro stadium after the 2026 Winter Olympics, which will be hosted by Milan.
The new stadium, which will be known as the “Cathedral”, will be built on the same site as the Giuseppe Meazza stadium in the San Siro suburb of Milan.
Previously, the new stadium was to be built next to the San Siro, but plans changed to demolish the stadium and build another one that could accommodate 60,000 fans and cost one billion euros to build.
If the proposal is finally approved by the Milan municipality in November, construction work will begin in 2024 and will be completed at the start of the 2027-28 season.
According to Italian website Corriere della Sera, Inter and Milan estimate a revenue increase of 120 million euros from the new stadium, despite a reduction in capacity from 80,000 seats at the San Siro.
It is expected that the shape of the new stadium will be designed in the form of the old cathedrals in Milan, to express the heritage form of the city.
“The new San Siro will be the most beautiful stadium in the world because of its strong identity and distinction, and it will be an attractive and accessible arena that will facilitate the growth of clubs and their global competitiveness,” Milan president Paolo Scaroni said in statements on the club’s official website.
San Siro hosted the 1934 and 1990 World Cup events, as well as Euro 1980 and the 2021 Nations League finals.
Milan and Inter currently play at the historic San Siro stadium, which was built in 1926.