AC Milan and Inter have confirmed the purchase of the iconic San Siro stadium ahead of plans to rebuild a new 71,500-capacity arena.

The Serie A giants confirmed the deed of the sale with the Municipality of Milan for the land as they look to redevelop the stadium.

Plans to rip down the decaying stadium have been proposed for many years with both clubs seeking a more futuristic home.

The two clubs, who have shared the San Siro since 1947, have shelled out £173million to the city council to take ownership of the land around it.

MANICA and Foster + Partners, who are also behind Manchester United’s proposed new stadium, have been appointed to oversee design and development of the stadium and the masterplan for the surrounding area.

Although plans are set to see the Milan clubs make a h

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