Milan, the stadium operation begins: the San Donato area has been acquired. The costs of the operation
A crucial step forward for Milan’s new stadium construction in San Donato, at the San Francesco area, has been taken. The club has acquired the land where the facility will be built, with its inauguration planned for 2028 as reported by ‘Gazzetta dello Sport’. The deed was completed on Thursday, February 8th. This marks the final step of the preliminary land acquisition, which was already owned by SportLifeCity (the company controlled by Milan at 90%). The operation cost is far below €40 million.
THE PROJECT—
The amount refers to RedBird’s payments for project-related expenses, including documentation for the urban planning permit application and the land involved in the deed. Milan had previously disclosed this amount in a statement regarding the financial year ending June 30, 2023: “During the fiscal year, the majority shareholder ACM Bidco B.V. made a payment towards future capital increase in favor of the Parent Company AC Milan S.p.A. for a total of 40 million euros, necessary to cover expenses and investments related to the ‘New Stadium’ project and for the strengthening of the Parent Company’s equity”.
San Donato Mayor, Francesco Squeri, described the project during the presentation press conference held in mid-January: “The facility will have 70,000 seats, two levels of parking for 3,500 spots, a hotel, dining options, offices, a Milan store, a museum, a large square, and an auditorium.“
