Milan soccer clubs submit $1.3BN, 60,000-seat stadium plan

MILAN (AP) — AC Milan and Inter Milan are jointly asking city officials for permission to build a 60,000-seat stadium replacing the iconic San Siro.

The clubs say they plan a privately funded 1.2 billion euros ($1.35 billion) project to become a "sports, entertainment, and shopping" hub creating 3,500 jobs.

They say building a new arena next to the city-owned Guiseppe Meazza stadium is a better option than the uncertainty of renovation.

The technical and economic study submitted Wednesday "aims at obtaining the declaration of public interest from the Municipality of Milan."

A detailed architecture plan would follow later that "honors Milan's reputation for innovation and internationalization."

The clubs describe a "shared journey together (toward) a modern, sustainable and accessible urban district in the San Siro area, built around a new world-class stadium."

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