AC Milan and Inter Milan passed a major hurdle in owning their own stadium after the city council approved the sale of San Siro to the clubs early Tuesday after a nearly 12-hour overnight debate.

The vote to sell the existing stadium and the surrounding areas was passed 24-20 at about 3 a.m.

The clubs plan to tear down the 99-year-old stadium and jointly build a new 71,500-seat arena.

Milan and Inter released a joint statement calling the vote "a historic and decisive step for the future of the clubs and the city. [It] will lead to the creation of a new stadium meeting the highest international standards -- a world-class facility destined to become a new architectural icon for Milan and a symbol of the passion of football fans around the world."

The San Siro stadium and the surround

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