New Stadium

[Gal]

Lack of plans has never been the issue anywhere on this planet, the problem is the monstrous bureaucracy found in some part of our world and Italy are particular bad. The bureaucracy means it’s like scaling Everest every single time you want to do something, don’t matter if it’s building a garage or a stadium, heck even starting up a company is a challenge of a lifetime.

I’ll likely be dead by the time a new stadium get approved, I probably been in the ground for 100 years before the first ticket is sold if they keep the current pace.

 

[DARi0]

Alessandro Antonello admits both the Nerazzurri and Milan are ‘disappointed’

Inter and Milan unveiled in December 2021 a plan to build a new stadium in the San Siro area. It was supposed to be called ‘The Cathedral’ and be ready in 2027 after the demolition of the old Stadio Meazza.

However, Italian bureaucracy and a lengthy public debate involving citizens of the San Siro area ultimately made the plan collapse, so Inter have identified Rozzano, on the outskirts of Milan, as the venue for their next arena while Milan could move to San Donato.

Enough waiting

“It’s been a long debate given that Milan and we have been waiting for five years, so there’s a bit of disappointment because we still don’t see the final result,” Antonello said during an event in Milan on Tuesday, as quoted by FcInter1908.

“We are organised with alternative plans which we are carrying forward.”

Milano’s Mayor Beppe Sala has recently offered Inter and Milan the chance to buy the Stadio Meazza and pay for its refurbishment for an investment of circa €300m shared between the two clubs.

However, Inter and Milan still seem unconvinced and could ultimately decide to leave the iconic stadium to build their new arenas elsewhere in the near future.

 

[PHM1605]

This thread is crazy almost twenty years old and...still waiting for permission. Not even a single column has been established.

Explains why Italian football has fallen so much behind others. Especially financial.

 

[crzdcolombian]

where are we coming up with the money for a stadium if the city doesnt pay for it?

We owe what 500m at 12% to a hedge fund? Looking for another loan to pay that off as its due and rate will be even higher.

How much is a stadium? even if its 500m which is crazy cheap for 1 in Europe. so 1 billion at 12%+ interest rate

Math says stop dreaming of this.

just for you guys who are bad at math 500m at 5 years at 12% is 167.3m in interest
1b at 12% for 5 years loan is 335m in interest

if we go to 15% interest because we are fkd its 214m and 427.4m in interest for 5 years. Thats being generous we are fkd financially and lenders aren't going to just loan us money at low rates

 

[CafeCordoba]

We don't owe 500m to hedge fund. We owe 400m to creditors but due date of that loan is 2027 and the rate is 6.75%.

Don't mix up Oaktree loan to Inter's loan.

Stadium needs financing too yes, but I think it's easier to get funding for that compared to just football club operation.

 

[IL Fenomeno]

We don't owe 500m to hedge fund. We owe 400m to creditors but due date of that loan is 2027 and the rate is 6.75%.

Don't mix up Oaktree loan to Inter's loan.

Stadium needs financing too yes, but I think it's easier to get funding for that compared to just football club operation.

6.25? I thought 12

 

[CafeCordoba]

6.25? I thought 12

Precisely.

Because you are thinking about the Oaktree loan. Which is not Inter's loan. It's Zhang's holding company's loan.

Inter have a 400m loan, taken in 2017 or something, refinanced in early 2022 and is due in 2027.

 

[IL Fenomeno]

Precisely.

Because you are thinking about the Oaktree loan. Which is not Inter's loan. It's Zhang's holding company's loan.

Inter have a 400m loan, taken in 2017 or something, refinanced in early 2022 and is due in 2027.

Do you mean the bond?

 

[CafeCordoba]

Do you mean the bond?

Yes

 

[Forzanerazzurri]

where are we coming up with the money for a stadium if the city doesnt pay for it?

We owe what 500m at 12% to a hedge fund? Looking for another loan to pay that off as its due and rate will be even higher.

How much is a stadium? even if its 500m which is crazy cheap for 1 in Europe. so 1 billion at 12%+ interest rate

Math says stop dreaming of this.

just for you guys who are bad at math 500m at 5 years at 12% is 167.3m in interest
1b at 12% for 5 years loan is 335m in interest

if we go to 15% interest because we are fkd its 214m and 427.4m in interest for 5 years. Thats being generous we are fkd financially and lenders aren't going to just loan us money at low rates

Oh here come the project finance experts...