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Milan said they have filed a preliminary proposal with the city council of San Donato, a suburb south of Milan, targeting an area where they want to build a new 70,000-seater stadium. , together with the main club and museum.
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“This is a first step,” AC Milan chairman Paolo Scaroni said in a press briefing presenting the project.
The plan is to decommission the process in 2025 and move to the new facility in 2028.
Like other Italian clubs, AC Milan, which is controlled by the US fund RedBird, does not have an arena, which is seen as a key driver to increase revenue.
The club and local rivals Inter Milan have been in talks for years with the city of Milan to advance a joint project to rebuild San Siro, which was built in the 1920s and is now the home ground of two teams.
The project stalled amid political resistance and Italian heritage rules that protect historic buildings.
No financial details of the plan were disclosed, but a source involved in the process told Reuters that an investment of at least €1 billion (1.05bn) was required.