The iconic Italian football stadium is on track to be torn down and replaced by a new arena after Milan's city council approved its sale to the two clubs.
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Milan's iconic San Siro football stadium is set to be demolished after the city council approved its sale to AC Milan and Inter Milan on Tuesday after an overnight debate.
The two clubs plan to tear down the 99-year-old stadium and jointly build a new 71,500-seat arena as part of a €1.2 billion project.
The vote to sell San Siro and the surrounding areas to the teams for €197 million was passed 24-20 at about 3 am after a debate that lasted nearly 12 hours.
AC Milan and Inter had both threatened to build stadiums outside the city if the plan was rejected.
In a statement, the clubs called the vote "a historic and decisive step for the future of the clubs and the city."
"The clubs look ahead with confidence and responsibility to the next steps of the process that will lead to the creation of a new stadium meeting the highest international standards," the statement said.
Given that both clubs are owned by US investment funds, there are concerns that the firms might one day look to profit from selling the land, according to Italian media reports. There have also been complaints from people who would prefer to keep one of the country's most famous football stadiums.
The sale will have to be finalised before 10 November when San Siro's second tier, which was completed 70 years ago on that date, takes on historical significance and would become almost impossible to demolish.
Around 90% of the stadium will reportedly be torn down, but a heritage section in the second tier will be left intact.
Last week, the clubs announced agreements with architectural firms Foster + Partners and Manica to design a new stadium, after the city council issued preliminary approval for the sale.
The new venue will be part of an urban regeneration project covering approximately 281,000 square meters.
The idea is to have a new stadium ready for when Italy co-hosts the 2032 European Championship with Turkey.
San Siro was built in 1925 and is the largest stadium in Italy with a capacity of 80,000. It is set to host the opening ceremony of the 2026 Winter Olympics.