Inter Milan & AC Milan Seek Funding For New San Siro Project – Projected Costs & Revenues Revealed | OneFootball

Inter Milan and AC Milan have begun seeking funding for their ambitious new San Siro project.

This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews. They report the clubs are projecting costs of €1-1.5 billion, and a jump in annual revenues of €50 million.

Inter and Milan are now going full speed ahead on their project to build a new stadium.

It’s been a long and winding saga. The clubs had initially looked to demolish the existing stadium and build a new one. Then they considered building outside of the city of Milan, separately.

But now, the option of building a new stadium adjacent to the San Siro has opened up.

And that has become the clearly preferred option of the Nerazzurri and the Rossoneri.

Inter & AC Milan Seek Funding For €1.5B New San Siro Project

Inter and Milan will still have to agree a deal with the city of Milan to purchase the land to build on.

But the clubs are confident. That step should take place in the coming days.

And in the meantime, the Nerazzurri and the Rossoneri have begun the process of seeking funding for the new stadium.

It will be an ambitious undertaking. The Corriere della Sera report that the clubs are projecting costs of €1.-1.5 billion for construction.

However, the ultimate aim of the new stadium project is to increase revenues. In this sense, the clubs forecast an increase from €80 million annual revenues to €130 million, per club.

Therefore, the Corriere della Sera note, the clubs can provide certain financial guarantees to creditors.

Prominent lending banks JP Morgan and Bank of America are among the banks that Inter and Milan are in talks with. As are Italian bank Banco BPM.