Inter and Milan have both confirmed that they want to demolish San Siro and build a new stadium alongside it.
According to La Repubblica, the idea of refurbishing the current San Siro has been shelved in favour of a joint-project, which also involves redevelopment of the surrounding area.
The newspaper explains the entire project will set both clubs back ‘around €700m’ and that they hope to have the ground open by the start of the 2022-23 campaign.
Milan had already decided a 60,000-capacity new stadium was necessary some time ago but Inter favoured a renovation of the existing 80,000-seater stadium.
However, Inter have now come on board with the plans for a new ground, that will be constructed on the car parks adjacent to the present San Siro.
It will be set partly below street level to reduce the visual impact on the neighbourhood and the area around the stadium will also be developed.
Both teams will be able to continue playing at the San Siro during the construction of the new arena next door.
Another reason for Inter eventually rejecting the renovation option was because it would have meant a reduced capacity for several seasons while the work was carried out.
“We’ll have a new San Siro next to the old one, in the same area as the concession,” AC Milan patron Paolo Scaroni told ANSA.
“The old one will be knocked down and, in its place, there will be new constructions going up.”
Nerazzurri CEO Alessandro Antonello added when asked if his club would build the new stadium with their city rivals:
However Milan mayor Beppe Sala has already warned that his council cannot lose ownership of San Siro, as it could be used in the opening ceremony for the 2026 Winter Olympics if his city won hosting rights.
Milan is competing with the Swedish capital of Stockholm for the 2026 Winter Olympics, with the host city to be revealed on Monday evening.
“The council owns San Siro,” he told Sky Sport Italia.
“If Milan and Inter decide to build a stadium, I can only say two things. It’ll take time. And then, ultimately, we’re owners of the stadium.
“In the Milan-Cortina dossier, we guaranteed that in 2026, San Siro will still be open as usual. End of story.
“After 2026, we’ll decide the future of San Siro in the event there’s a new stadium. But right now, we’re absolutely adamant that this will be the venue for the opening ceremony.
“It’s obvious that the [new] stadium itself, if there’s nothing else, can’t be sustained financially.
“You can build it if you do something else around it: residences, commercial buildings.
“If the two teams were to present a global project, it’s impossible that it could be done in a few years.
“I’d like to do things tomorrow, but it’s not going to happen. I have to dampen the enthusiasm.
“Plus, in our dossier we wrote that the opening ceremony would be held at San Siro, and San Siro is ours; therefore, I’ll keep it open until 2026.
“I’ll listen to the two teams, but the stadium belongs to the council, and the council maintains its commitment to keeping San Siro open until 2026.”