Italian Serie A football clubs Inter and AC Milan are working towards building a new 60,000-seat joint stadium, according to a report by La Repubblica.
The Italian newspaper said that the clubs, which share the San Siro stadium, are hoping to move into the new 60,000-capacity venue by 2023.
The report said that the project has already been given the green light by the city’s council and only now requires the final approval of Inter to move forward.
The facility would be built just “a few hundred metres away” from the San Siro, which has a capacity of 80,000 and opened in 1926.
The new stadium would be based loosely on MetLife Stadium, the state-of-the-art home of the New York Giants and New York Jets NFL American football franchises. The report added that the development would feature a 5,000-capacity arena for concerts and events, as well as a new shopping complex.
It is expected that the development will cost €600m ($676m) to build, with hopes that the venue’s naming rights could be worth at least €25m per year.