How much Inter and Milan paid to purchase San Siro

Inter and Milan have confirmed that they have signed the deeds for the sale of the San Siro site and the surrounding area, which includes the iconic Stadio Giuseppe Meazza. So, how much have the two clubs agreed to pay for the purchase of the stadium, and how much of that has already been paid? 

The clubs Inter and Milan confirmed on Wednesday that they have signed the deeds for the purchase of the San Siro site and its surrounding areas, including the Stadio Giuseppe Meazza. 

It is understood that the two teams will look to demolish the vast majority of the Stadio Meazza in its current form in order to make way for a new, state-of-the-art venue which will be capable of hosting matches at EURO 2032, which will be co-hosted by Italy and Turkey. 

The transaction had to be completed before November 10, because after that date, the second tier of the Stadio Meazza would have become old enough to qualify for protected status under Italian law, which would have prevented its demolition. 

According to reports from Calcio e Finanza, the total price agreed for the purchase of the San Siro site amounted to €197.08m plus VAT. This figure will be paid in several instalments. 

According to Wednesday’s report, a figure of €91.96m was paid before the signing of the deeds. 

A second installment, the exact amount of which is yet to be determined, will be paid within 30 days of the submission of planning applications. 

The remainder of the €197.08m will be paid within 10 days of the completion of the demolition works on the current stadium, according to Calcio e Finanza. 

Around €22m of the total fee will be ‘discounted’ by the local municipality, according to reports from Calcio e Finanza and TMW. 

The €197.08m sum is solely to acquire the stadium and surrounding area in its current form, however. Wednesday’s reports confirm that the total cost of the operation to purchase the current site, demolish the majority of the ground and to redevelop the stadium will cost somewhere in the region of €1.2 billion.