Serie A
Milan decided to build a stadium without Inter, abandoning the Cattedrale project
Milan chose not to build their new home together with Inter, while at the same time abandoning the Cattedrale project they had jointly proposed.
AC Milan have decided to abandon the plan to build a new stadium with Inter Milan, as reported today in Italy’s Gazzetta dello Sport, and to build a stadium in a different location, away from the San Siro.
The reason is that the Nerazzurri’s financial future is uncertain and AC Milan’s new owner Gerry Cardinale is not willing to wait for them.
Combine an issue with the €292 million loan (from Oaktree Capital Management) but also with the 12% annual interest to be repaid until 2024. If they fail, Oaktree will acquire a majority interest. On the contrary, Milan has a solid plot of land from the same source and also the resources to carry out the current project.
Another reason why Milan will proceed with this step is the project “Cattedral”, the additional demands of the local board of directors. He is now demanding a 70,000-seat stadium and 40 million euros for the redevelopment of the San Siro district, which should consist of 50 percent green space.
Source: sport 24
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