Official: AC Milan and Inter now owners of San Siro – deed of sale signed

AC Milan and Inter are now the official owners of San Siro and the surrounding area, after the deed of sale was signed.

The signatures were expected on Wednesday, and sure enough they have arrived. Luca Bianchin of La Gazzetta dello Sport has confirmed on social media that the Stadio Giuseppe Meazza is now owned by Milan and Inter as of today.

Signed, sealed, delivered

This morning the deed was completed with the signatures. The meeting started at 7:30 and wrapped up around midday. The final procedures are currently underway, and he adds that the clubs have already begun the design phase for the new stadium.

The clubs needed to acquire ownership of the stadium by Monday because the architectural restrictions on the second tier would come into effect on November 10th, meaning it could not be demolished.

Inter and Milan will receive a loan of approximately €100m from banks and will pay the first instalment of €73m to the City Council. The price of the stadium and surrounding areas, determined by the Revenue Agency, will be €197m. The Council will contribute €22m towards this cost.

Official announcements from the clubs themselves and the City of Milan are expected shortly, and we will update this article with them.