Italy: AC Milan and Inter deposit new San Siro-located stadium project to Municipality of Milan

"Today, A.C. Milan S.p.A. (AC Milan) and F.C. Internazionale Milano S.p.A. (FC Internazionale) filed with the Municipality of Milan the 'Technical and Economic Feasibility Study' for the new Milan stadium and its multi-functional district," announced the two Serie A TIM clubs. "This is a comprehensive project that foresees private investments of over 1.2 billion euros and the implementation of which is essential in bringing Milan's football back to the elite of the European and global football arena," added the joint statement.

This project involves the construction of a 60,000-seater complex next to the current 78,228-seater Stadio Giuseppe-Meazza, which would be destroyed to make way for a commercial area dedicated to sports, entertainment and shopping. "All investments will be made by AC Milan and Inter, who will receive in exchange a 90-year concession in this territory (real estates)," added the two Milan clubs.

"The request made today by AC Milan and FC Internazionale to the public administration aims at obtaining the declaration of public interest from the Municipality of…