AC Milan’s owners said on Thursday they will build a 70,000-capacity new stadium for the seven-time European champions that will serve as a multi-purpose venue.
AC Milan’s owners announced on Thursday that they will construct a 70,000-capacity new stadium for the seven-time European champions that will operate as a multi-purpose facility. Milan and local rivals Inter, who both play in the old San Siro, which is controlled by the local government, have been looking into building their own stadiums on the outside of the city. Last week, Milan city officials stated that they were still interested in working with both teams on a potential San Siro renovation.
Gerry Cardinale, the founder and general partner of RedBird Capital, which acquired Milan in 2022 for 1.2 billion euros ($1.3 billion), said Italy’s economic capital was ideal for a music and entertainment venue as well as a world-class stadium.
“We’re going to try to bring an American stadium and live event campus to Milan,” Cardinale stated at the Financial Times Business of Football Summit in London.
“Of all the cities in Europe, you would assume Milan would be the best spot for a fusion of sports and music, as well as live events for fans, and that is exactly what we intend to do.
“That should be great not only for Milan that should be good for Italy and Serie A.”
Cardinale stated that he planned to establish a corporation capable of developing numerous additional stadiums for Italian clubs.
In recent years, Serie A has grown in popularity among American investors, and many are eager to transition away from publicly owned stadiums in order to enhance club revenue sources.
Former Milan striker Zlatan Ibrahimovic, who currently works as an operating partner for Cardinale’s RedBird, stated that the club needed a “new beginning”.
“Milan does not own San Siro. “You want to have your own stadium and run things your way,” Ibrahimovic explained.
“Great memories but there is always a new beginning and for me the new stadium will be massive especially for the fans and the players when it will be done.”
Leave a Reply