Milan clubs enlist Goldman Sachs to advise on new San Siro

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Italian soccer rivals AC and Inter Milan turned to US investment bank Goldman Sachs to evaluate the feasibility of their new stadium project from both a financial and operational standpoint, according to Il Sole 24 Ore.

The Italian daily business newspaper says the Serie A clubs engaged the financial services giant six months ago, although information from the company’s analysis has not yet been made publicly available.

Spanish champions Barcelona last year also appointed Goldman Sachs to advise on their redevelopment of the Camp Nou, and the Milan clubs now appear to be looking to the same firm to help fund their plans to build a new, 60,000-seater San Siro.

It has also been reported that club officials – including AC Chief Executive Ivan Gazidis and Inter equivalent Alessandro Antonello – have recently visited the US to meet with representatives from Goldman Sachs to discuss the construction of the new stadium.

                                     Goldman Sachs

Goldman Sachs has worked on numerous stadium projects in recent times, playing a similar role with National Football League (NFL) team the San Francisco 49ers in the construction of their Levi Stadium. In Europe, the company was enlisted by English soccer club Tottenham Hotspur for their new home, as well as  Roma, another Italian soccer team, for extra funding.

The news comes after it was reported last week by La Repubblica that AC and Inter have agreed to work towards the construction of a new €600 million (US$680 million) San Siro to be ready by 2023.

The Milan sides signed a memorandum of understanding (MOU) back in November vowing to work together on either modernising their historic shared home or building a new stadium, and the clubs have apparently now agreed to demolish the San Siro and erect a smaller, modern replacement just a few hundred metres away from the current site.

La Repubblica also revealed that the design of the new San Siro is based on the 82,500-seater MetLife Stadium in New York City, which serves as the home of the National Football League’s (NFL) Giants and Jets.

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