Manchester United have plans for a new stadium but it appears Inter and AC Milan could yet cause a delay after their agreement to transform the San Siro was made official
View from outside the San Siro
The San Siro is set to be largely demolished(Image: Getty Images)
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AC Milan and Inter Milan have officially signed a deal that sees them take ownership of the San Siro and its surrounding area - which risks delaying Manchester United's new stadium plans.
The Italian giants have sealed an agreement that will allow them to invest £1billion to build a new stadium and undertake a wider transformation of the location. That means Old Trafford chiefs may be forced to wait in line given the Milan clubs and United both share the same partner.
Foster + Partners is the firm behind designing Sir Jim Ratcliffe's 100,000 capacity hopes, with a timeline for completion of 2030 touted, and has been confirmed as a stakeholder in the design and development of the new San Siro. They are to undertake work to build a new 71,500-seater ground, with much of the current stadium to be knocked down. That could leave the developer's hands full, with hopes that building work could be completed by 2031, in time for the European Championship the following year.
United continue to work with Fosters but with a caveat. The club told their Fan Forum meeting last month the company would be the master planner, but did not commit to a developer.
Minutes read: "The club relayed it is working collaboratively with Foster+ Partners as the master planner for the wider regeneration project and that no official appointment has been made for the engineering and construction contract for the new stadium build project."
Milan and Inter are ready to get to work, however. September saw the Milan City Council approve the £167m sale of the stadium and surrounding area to the two clubs.
Around 91 per cent of the ground is set to be demolished — the first and third tier stands and part of the second tier will be removed, and the remaining sections will be preserved by creating a park and pedestrian pathways. Fosters are responsible for the urban planning that takes place.
Statement read: "AC Milan and FC Internazionale Milano today announce the signing of the deed of sale with the Municipality of Milan for the acquisition of the San Siro Great Urban Function, including the Meazza Stadium and its surrounding area.
Man Utd Stadium
Foster + Partners have also been working on Manchester United over plans for a new stadium
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"The construction of the new stadium and the urban regeneration project for the San Siro district represents a new chapter for the City of Milan and both Clubs. The strategic milestone reflects the shared ambition of AC Milan and Inter and their respective owners, RedBird and funds managed by Oaktree, for long-term sporting success and value-enhancing investment to support the Clubs’ sustainable growth.
"The Clubs have entrusted Foster + Partners and MANICA with the design and development of the new world-class stadium and the masterplan for the surrounding area. The stadium will meet the highest international standards and is destined to become a new architectural icon for the City of Milan. As part of the project, a new center of excellence will also be established, reflecting the sporting and cultural vocation that defines the San Siro district and the entire city, while redefining the urban space through innovation, sustainability and accessibility.
"The transaction, completed through Stadio San Siro S.p.A., was supported by a financing provided by international banking institutions Goldman Sachs, J.P. Morgan, as co-lead arrangers, and by the Clubs’ banking partners, Banco BPM and BPER Banca."
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