Milano Finanza are reporting that AC Milan and Inter Milan have submitted their new plans for the Nuovo Stadio Milano to the City Council of Milan and have received the support of two major American banks JP Morgan and Goldman Sachs for the project. The investment in the project is expected to be 1.25 billion dollars split equally between the two clubs. The report adds that the definitive go ahead could arrive between October and November 2021 as the project involves the construction of a new stadium and the redevelopment of a part of the San Siro area.
The report further adds that there are a number of potential stumbling blocks such as the council elections next year. The stadium is expected to take three years to construct hence the potential date for the inauguration of the Nuovo Stadio Milano could be the 2024-25 season. Milan desperately need the move to be able to hold on to a larger chunk of their matchday revenues to boost the club's coffers.