There has been a whirlwind of stories regarding the plans to build a new stadium over the past couple of days, and a report has now stated that AC Milan’s mission remains clear.
This morning there was a meeting between the Mayor Giuseppe Sala and representatives of Milan and Inter, including the respective CEOs Giorgio Furlani and Alessandro Antonello. After the meeting Sala provided an update and confirmed the clubs have said no to the San Siro renovation project.
According to MilanNews, the main reason behind the ‘largely predictable’ decision to reject the project put forward by WeBuild is due to the excessive costs and the resulting logistical problems. The plan was said to only cost €400m, but Milan and Inter believe it could even be double that.
Contrary to what Sala said in his statement, bringing back the old project of the new stadium shared with Inter in the San Siro area is unlikely too. This is because would mean once again clashing with the problems that accompanied the project for many years, which forced Milan to San Donato.
A ‘new San Siro’ is an extremely difficult option to follow given the numerous obstacles present, while the San Donato idea is the ‘only way’ at the moment. Everything is moving forward and we are at the beginning of the Program Agreement, but Inter could still be part of that project and the ownerships are speaking.
The stadium still feels like a pipe dream.
Screw Inter to all hell.
No joint stadium.
Milan started the stadium project by themselves, they can finish it by themselves.
Let Inter rot renting the dilapidated and out-dated San Siro alone.
No. The new cost estimate for the San Donato stadium went up to 1,2 billion Euro. Milan can’t afford it on its own and there is no downside to sharing with Inter because there will be no lost revenue due to sharing. We’ve been sharing San Siro with them for decades with no problem, but renting; if we jointly and privately own a modern stadium, we will bring our revenue to Juve’s level. This goal is more important than our rivalry. Let’s allow our rivalry to remain on the pitch; but nothing prevents us from being business partners outside of the pitch. We gotta be pragmatic. It’s better to share but own the stadium as soon as possible, than to delay and continue to allow Juve to be the only Serie A team that owns their own stadium.
Well said Luigi. The club needs to Level up financially and owning a stadium would bring us to that level. I was commenting about this a few days ago but some couldn’t put aside the rivalry with Inter . Business is business and it makes sense to spend 600m rather then 1.2billion to bring in the same profits.
This would be a game changer for Milan.
“Business is business and it makes sense to spend 600m rather then 1.2billion to bring in the same profits.”
It doesn’t work like. You cannot divide the costs without touching the income. 1+1=2, not 5 or 7.
The income of home games and sponsorship during home games will be exactly the same as owning your own stadium, that is what I meant. That is a major advancement in income , compared to renting San Siro.
Of course the profits of hotels , retail establishments and any other services that are co-owned will be shared.
Everyone wishes Milan have their own Stadium but you have to be realistic on the overall costs, interest due on loans and the Italian beauracratic process that will cost you in delays, litigation and fees.
So owning a stadium with Inter financially makes sense .
if anything the shared stadium has helped the rivalry be even more iconic
Original costs were already 950M when Milan were going it alone. An additional 300M isn’t going to bankrupt Redbird. They just need to find more investors.
Splitting revenues means splitting naming rights, splitting concert income, splitting anything that uses the stadium and the surrounding facilities (hotels, entertainment and shop rentals, etc.). Nowhere in all of Europe do we have major clubs sharing stadiums. That’s not how you maximize your profits.
Also, I do not believe Inter, with their need to cut costs (they are at the beginning of where Milan were at financially around 5 to 6 years ago) have the ability to chip in any money to fund a stadium project right now. Inter are still making annual NET LOSSES. Where do they find the money to pay for stadium costs?
So if you want to get the stadium over the line by the 2028 deadline, and Inter ain’t gonna chip in anything right now, Milan will have to pay for everything anyway.
“Milan can’t afford it on its own”
Why not? The finances are in good shape. If Milan cannot afford it, how could any club in Italy afford it? Ridiculous. If you mean Milan don’t have a 1.2 billion cash stock somewhere, you are right. But stadiums are never paid in cash.
You do know that RedBird haven’t even paid off Elliott yet and can still default when the payments are due , ending up like Zhang and returning the club to Elliott.
It’s funny you speak of getting a loan of 1.2m like it’s a piece of cake, why doesn’t Redbird who have assets of 10billion go for it then? Why are they pursuing a deal with Inter?
Because they are proper financial experts and know what is feasible and what is a death sentence.
Our Tapeworm of a owner doesnt have the money to build a stadium..
Means..
Not a single soul on this entire planet wants to loan money to a r3tarded know-it-all Hollywood m0r0n..