"THE OWNERS of AC Milan have announced the construction of a new stadium to allow the Rossoneri to compete on an equal footing with the continent's elite teams, their top executive Gerry Cardinale said on Thursday.
At the Financial Times Business of Football Summit in London, Cardinale announced that the club will get "a new house with 70,000 seats". "It should be good not only for Milan but for all of Italy and Serie A," Cardinale said.
AC Milan and city rivals Inter have been considering moving out of the historic San Siro stadium, which is owned by the local authorities, and building their own stadiums on the outskirts of the city for some time.
"I will open a company that will build this stadium, and then I sincerely want that company to build stadiums for all the other teams in Serie A," added the founder of the investment company RedBird Capital, which bought a controlling stake in AC Milan in 2022 with a deal worth around 1.2 billion euros.
Speaking together with Cardinale, the legendary Swede Zlatan Ibrahimović said that San Siro holds "great memories, but there is always a new beginning for everyone". Ibrahimović finished his playing career in Milan in 2023 and now works as a senior advisor to the club owner.
Milan city authorities said last week that they wanted to see if they could work with clubs on a possible redevelopment of the San Siro. AC Milan was the European champion seven times, but the last time it triumphed was in 2007."