AC Milan's owners unveil plans for a 70,000-capacity stadium and entertainment hub
AC Milan's ownership, led by RedBird Capital's Gerry Cardinale, announced a groundbreaking initiative to construct a 70,000-capacity stadium that transcends traditional sports venues.
FollowAC Milan's ownership revealed plans on Thursday to construct a new stadium with a capacity of 70,000, intended to be a versatile venue for various events. The seven-time European champions, along with local rivals Inter, currently share the historic San Siro, owned by the local authority. Both clubs have been exploring separate stadium options on the city outskirts. Despite this, Milan city authorities expressed interest in collaborating with both clubs to revamp the San Siro.
Gerry Cardinale, founder and managing partner of RedBird Capital, which acquired control of Milan in a 1.2 billion euro ($1.3 billion) deal in 2022, sees Milan as an ideal location for a multi-use facility, combining a world-class stadium with music and entertainment events. Cardinale aims to bring an American-style stadium and live event campus to Milan, considering it beneficial not only for the city and the club but also for Italy and Serie A.
Speaking at the Financial Times' Business of Football Summit in London, Cardinale expressed the ambition to establish a company capable of constructing new stadiums for various Italian clubs. As Serie A attracts American investors, there is a growing interest in privately-owned stadiums to enhance clubs' revenue streams.
Zlatan Ibrahimovic, the former Milan striker now working as an operating partner for RedBird, emphasized the significance of a "new beginning" for the club. With the intention of having their own stadium and greater control, Ibrahimovic believes the new facility will be monumental for fans and players alike.
