Inter and AC Milan complete purchase of San Siro / Photo: Piero CRUCIATTI - AFP/File
-
France moves to suspend Shein website as first store opens in Paris
-
Spain's exiled king recounts history, scandals in wistful memoir
-
Wall Street stocks steady after positive jobs data
-
Trump blasts Democrats as government shutdown becomes longest ever
-
Indian pilgrims find 'warm welcome' in Pakistan despite tensions
-
Inter and AC Milan complete purchase of San Siro
-
Swedish authorities inspect worksite conditions at steel startup Stegra
-
Keys withdraws from WTA Finals with illness
-
Prince Harry says proud to be British despite new life in US
-
BMW boosts profitability, welcomes Nexperia signals
-
EU strikes last-ditch deal on climate targets as COP30 looms
-
Stocks retreat as tech bubble fears grow
-
Shein opens first permanent store amid heavy police presence
-
West Indies edge New Zealand despite Santner brilliance
-
French pair released by Iran await return home
-
German factory orders up but outlook still muted
-
Death toll tops 100 as Philippines digs out after typhoon
-
Attack on key city in Sudan's Kordofan region kills 40: UN
-
'No one could stop it': Sudanese describe mass rapes while fleeing El-Fasher
-
Champagne and cheers across New York as Mamdani soars to victory
-
Medieval tower collapse adds to Italy's workplace toll
-
BMW boosts profitability despite China, tariff woes
-
South Africa's Wiese wary of 'hurt' France before re-match
-
Asian markets sink as tech bubble fears grow
-
Beyond limits: Croatian freediver's breathtaking record
-
Tottenham supporting Udogie after alleged gun threat in London
-
Thunder roll Clippers to stay unbeaten as SGA keeps streak alive
-
In appeal, Australian mushroom murderer alleges 'miscarriage of justice'
-
Toyota hikes profit forecasts 'despite US tariffs'
-
Typhoon death toll soars past 90 in the Philippines
-
Ex-France lock Willemse challenges Meafou to become 'the bully'
-
Ukrainians to honour sporting dead by building country they 'died for': minister
-
At least 7 dead after UPS cargo plane crashes near Louisville airport
-
US Supreme Court hears challenge to Trump tariff powers
-
US government shutdown becomes longest in history
-
India's Modi readies bellwether poll in poorest state
-
Green goals versus growth needs: India's climate scorecard
-
Where things stand on China-US trade after Trump and Xi talk
-
Sri Lanka targets big fish in anti-corruption push
-
NY elects leftist mayor on big election night for Democrats
-
Injured Jordie Barrett to miss rest of All Blacks tour
-
Asian markets tumble as tech bubble fears grow
-
Pay to protect: Brazil pitches new forest fund at COP30
-
Australia pick 'impressive' Weatherald in first Ashes Test squad
-
Iraq's social media mercenaries dying for Russia
-
Young leftist Trump foe elected New York mayor
-
Concerns at ILO over expected appointment of close Trump advisor
-
Venus Williams to return to Auckland Classic at the age of 45
-
No deal yet on EU climate targets as COP30 looms
-
Typhoon death toll climbs to 66 in the Philippines
NYSE - LSE
Inter and AC Milan complete purchase of San Siro
Inter Milan and AC Milan moved one step closer to a new stadium of their own on Wednesday after completing the purchase of the iconic San Siro, which is set for demolition.
The two Serie A clubs announced "the signing of the deed of sale with the Municipality of Milan", little more than a month after city approval for the acquisition of the land on which the stadium sits.
Nicknamed football's La Scala, San Siro is one of the world's most recognisable stadiums and the longtime home of Inter and AC Milan, who between them have been crowned European champions 10 times.
Inter and AC Milan obtained approval to purchase the land for 197 million euros ($231 million) after over 11 hours of debate and a knife-edge vote at Milan city hall in the early hours of September 30.
The sale needed to be completed by next Monday, otherwise a public building protection order for the San Siro's second tier would have come into effect.
Now the two clubs can now push ahead with a project worth around 1.2 billion euros which will radically change an area of just over 28 hectares (70 acres) in a densely-populated neighbourhood on the western outskirts of Milan.
A modern 71,500-capacity arena will be built on land -- currently occupied by matchday car parking and a public park -- to the immediate west of the current stadium which will continue to be used until the new one is completed.
Once the new ground is constructed, the San Siro will be almost entirely demolished to make way for new parkland, office space and entertainment facilities with everything to be designed by architectural firms Foster and Partners and MANICA.
The clubs are hoping to have the new stadium ready in time for Euro 2032, which is set to be jointly hosted by Italy and Turkey.
Italy's football federation needs to communicate to European governing body UEFA its five official picks for stadiums for that tournament by October next year, when it can present new venues or ones which need to be redeveloped as long as works begin by March 2027.
The current San Siro will host the opening ceremony of the upcoming Milan-Cortina Winter Olympics on February 6.
C.Hamad--SF-PST