San Siro to be demolished after AC Milan and Inter Milan complete joint takeover of stadium
AC Milan and Inter Milan have jointly acquired the historic San Siro stadium - and will now demolish it.
The two Serie A clubs have purchased surrounding land from city authorities, moving a step closer to demolishing the iconic venue and replacing it with a new, modern arena.
Both Italian clubs are owned by US investment funds RedBird (Milan) and Oaktree (Inter), who have hired architectural firms Foster and Partners and Manica to design a 71,500-seat stadium in its place. The project is part of a wider redevelopment plan that includes commercial and residential spaces.
Under the proposal, most of the existing San Siro structure will be torn down, with only a small heritage section of its second tier preserved.
The announcement comes as Milan prosecutors opened an investigation into alleged bid-rigging related to the acquisition, following a complaint from a group claiming they were denied time to submit a competing offer. Sources said the probe is unlikely to delay the deal.
Built in 1926 and renovated for the 1990 World Cup, the San Siro remains Italy’s largest stadium with a capacity of nearly 76,000. Despite its history - from legendary derbies to concerts by stars like Bruce Springsteen, Madonna, and Coldplay - the venue no longer meets modern standards.
Italy faces growing pressure to upgrade its football infrastructure ahead of co-hosting Euro 2032 with Turkey, as investors push for more profitable and functional facilities.
The new Milan stadium will be constructed nearby. Until it opens, San Siro will continue to host both clubs’ home games, as well as the opening ceremony of the 2026 Winter Olympics.
However, there are plenty of preservationists and local groups who want to save what many still call the temple of Italian football.