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New San Siro – AC Milan & Inter Form Joint Holding Company, Outline Board & Minority Shareholder Rules

Originally posted on SempreInter.com  |  By Marko Vrakela  |  Last updated Oct 9, 2025 4:54 AM ET

AC Milan and Inter Milan have reportedly created a joint holding company to oversee the redevelopment of the San Siro area.

According to Milano Finanza via FCInterNews, the two special-purpose firms Red Stadco and Blueco will equally own the new entity, Nsm Holding.

Indeed, owned by AC Milan, Red Stadco will control 50% of the joint company, representing Rossoneri’s interests.

Meanwhile, Blueco, owned by Inter, will hold the remaining 50%, protecting Nerazzurri’s stake in the project.

Therefore, each club controls 50% of the firm, expected to acquire San Siro and related building rights by the end of October.

AC Milan & Inter Milan Establish Joint Holding Company Ahead of San Siro Redevelopment

Additionally, the six-member board features representatives from both clubs and their respective owners.

Indeed, the arrangement between Oaktree and RedBird ensures joint ownership of the stadium for at least fifteen years.

Furthermore, both parties have agreed to a right of first refusal should either club decide to pull out of the project.

Meanwhile, minority investors may join the project in the future.

However, any participation must comply with strict integrity and control rules imposed by the city council. 

This article first appeared on SempreInter.com and was syndicated with permission.

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