Milan and Benfica meet as San Siro ownership drives new stadium plans

Under the floodlights of the historic San Siro, the roar of AC Milan supporters swells as the club prepares to host Benfica on Wednesday at 21:00, a first‑group‑stage encounter in the Europa League that also marks the stadium’s latest chapter. It also offers a glimpse into the stadium’s evolving ownership saga.

Ownership deal finalised

AC Milan and Inter Milan jointly own the San Siro, with the venue known as San Siro for Milan and Giuseppe Meazza for Inter. The clubs sealed the deed of purchase in early November 2025, acquiring the stadium and surrounding land from the Municipality of Milan.

The sale was approved after an intense debate lasting more than eleven hours at the end of September. Members voted 24 in favour, 20 against, with two abstentions.

Both clubs agreed to pay €197 million for the stadium and its adjacent parking facilities. The transaction aims to secure the ground for future development.

New stadium project outlined

The San Siro will remain a shared home while a brand‑new arena is slated for completion in 2031. The new stadium project carries a price tag of €1.2 billion.

Foster + Partners and MANICA have been commissioned to design the world‑class arena and its surrounding masterplan. The venue is intended to meet the highest international standards and become an architectural icon for the city.

The deal, executed through Stadio San Siro S.p.A., was backed by financing from Goldman Sachs and J.P. Morgan as co‑coordinators. Club banking partners Banco BPM and BPER Banca also provided support.

Inaugurated in 1926, the San Siro has undergone several renovations and now holds a capacity of 75,000 spectators. Its storied history adds weight to the upcoming Europa League tie.

The Europa League group‑stage match between AC Milan and Benfica is scheduled for Wednesday, 16 September, at 21:00. It will be the first league fixture to be played in the stadium under the new ownership arrangement.

The club’s official statement read: “The construction of the new stadium and the urban regeneration project of the San Siro neighbourhood represent a new chapter for the city of Milan and for both clubs.” The quote underscores the long‑term ambition behind the investment.