AC Milan and Inter have officially submitted plans to local authorities for a new 60,000-seater stadium which would replace the iconic San Siro as the home ground for the teams.
The clubs signed a 'memorandum of understanding' in November of last year which indicated their intention to work towards a new stadium venture, after it was deemed any suggestions to renovate their current ground were unfeasible.
It was revealed last month that the San Siro would be demolished once the new stadium had been completed.
The San Siro, which is officially known as the 'Stadio Giuseppe Meazza', was first opened in 1926. It was most recently renovated in the buildup to the 1990 World Cup. It is one of the most well-known grounds in European football, having hosted four European Cup finals.
It seems that the stadium will soon be condemned to the history books, however, with the new project set to bring in €1.6million in private investment. The joint statement released from the clubs read:
AC Milan and Inter filed with the municipality of Milan the technical and economic feasibility study for the new Milan stadium and its multifunctional district.
The proposal to the local institutions marks a first official step by the clubs, beginning a shared journey together with the municipality towards constructing a modern, sustainable and accessible urban district in the San Siro area, built around a new world-class stadium.
The documentation submitted by the clubs consists of a detailed technical and engineering study which does not yet include an architectural component.