Source:REUTERS/Daniele Mascolo
[Saba Sports News] According to Italian media reports, Inter Milan and AC Milan have established separate companies to acquire San Siro, with a deadline of November 10th for the acquisition. The Milan city council previously voted to approve the sale of the San Siro stadium and its surrounding area to AC Milan and Inter Milan. The two clubs have already begun the acquisition process. Currently, AC Milan has established the company Red Stadco, and Inter Milan has established Blueco. These companies are led by personnel trusted by their respective ownership funds, RedBird Capital and Oaktree Capital. These two companies will each hold a 50% stake in NSM Holding, which will be responsible for completing the acquisition. The final acquisition must be notarized and completed by November 10th, as this is the deadline for the sale of San Siro and its surrounding area. This is because after that date, the second tier of the San Siro stadium will reach the age required for heritage protection status, which would prevent the stadium’s demolition. Furthermore, the NSM Holding company statutes specify that any new stadium built must be jointly owned by both Inter Milan and AC Milan for at least 15 years. If one party withdraws from the new stadium project, the other party will have the right of first refusal.