CF: Milan and Inter to settle over €20m in debts to council as part of San Siro purchase

AC Milan and Inter are ready to pay off the debts they owe to the City Council as part of the purchase of San Siro and the surrounding area.

As Calcio e Finanza report, everything is ready for the signing of the deed that will certify the transfer of ownership of the San Siro stadium from the council to the two clubs.

One of the issues addressed by the parties concerns the two clubs’ outstanding debts to the council, ones that were the subject of discussions during the various debates and denounced by the ‘Sì Meazza’ Committee.

In the preparatory documentation for the deed of sale – which should be signed by the end of October or in any case no later than 10 November – the following is written regarding outstanding payments:

“The Giuseppe Meazza Stadium is currently granted for use and management to AC Milan SpA and FC Internazionale Milano SpA, pursuant to an agreement signed on July 1, 2000, expiring on June 30, 2030.

“The operational management of the stadium and related activities is carried out by MI Stadio srl, a company jointly owned by the concessionaires.”

“The agreement provides, in particular, that the Companies owe the Municipality (Article 4) for each contractual year (running from 1 July to 30 June of the following year) a fee which, for the 2024/25 season, is equal to €11,116,487.73 (plus VAT) divided into two portions:

“(i) a portion equal to 53.30% to be paid in cash through advance quarterly instalments;

“(ii) a portion equal to 46.70% to be collected in the form of Extraordinary Maintenance or Innovation interventions (options provided for in Articles 5, 8 and 9, as these activities are the responsibility of the Municipality of Milan).”

As a reminder, Milan Mayor Giuseppe Sala confirmed earlier on Tuesday that the deed to sell San Siro to Milan and Inter should be completed this week.