On Thursday, AC Milan’s proprietors announced plans to construct a versatile new stadium with a 70,000-person capacity for the seven-time European champions.
The owners of AC Milan have announced plans to construct a new stadium with a capacity of 70,000, intending to transform it into a versatile venue for various events.
This initiative follows discussions between Milan and local rivals Inter, both of whom currently share the historic San Siro, owned by the local authority. There has been consideration of building separate stadiums on the outskirts of the city.
Despite this, Milan city authorities expressed last week their interest in collaborating with both clubs for a potential renovation of the San Siro.
Gerry Cardinale, the founder and managing partner of RedBird Capital, which assumed control of Milan in a 1.2 billion euro ($1.3 billion) deal in 2022, highlighted Milan’s status as Italy’s economic capital as an ideal location for a world-class stadium, complemented by a music and entertainment venue.
Speaking at the Financial Times’ Business of Football Summit in London, Cardinale outlined the vision of bringing an American-style stadium and live event campus to Milan, emphasizing the potential synergy between sports, music, and live events for fans. He expressed optimism that this endeavor would not only benefit Milan but also contribute positively to Italy and Serie A.
Cardinale further expressed the ambition to establish a company capable of constructing additional new stadiums for Italian clubs. With Serie A attracting interest from American investors, there is a growing inclination to move away from publicly-owned stadiums to enhance clubs’ revenue streams.
Former Milan striker Zlatan Ibrahimovic, now operating as a partner for RedBird, echoed the sentiment of a “new beginning” for the club, emphasizing the significance of having their own stadium and the positive impact it would have on fans and players alike.