Prosecutors in Milan are investigating allegations of bid-rigging related to the deal, following a complaint from a group who claimed they were not given sufficient time to make an offer. However, the complaint is not expected to delay the project.
The San Siro stadium, built in 1926, is Italy's largest stadium with a capacity of nearly 76,000. While it was renovated for the 1990 World Cup, it lacks modern facilities compared to other top European soccer venues. The stadium has also hosted concerts by international artists like Bruce Springsteen, Madonna, and Coldplay.
Under the development plan, San Siro will continue to host AC Milan and Inter matches until the new stadium is ready. The new stadium is expected to be built nearby, and the old one will be demolished, except for the heritage section.
The deal to acquire the land is backed by financing from Goldman Sachs and JPMorgan, with the clubs' banking partners Banco BPM and BPER Banca also involved. This project has been discussed since 2019 and has faced opposition from politicians and local residents who want to preserve the historic stadium.
