The Redbirds paid  €20m more than AC Milan for the stadium land in the San Francesco Region.

AC Milan formally announced earlier today that it has acquired the stadium land in the San Francesco region. The price tag cost, which came in at less than €20m, was, however, far less than the previously estimated €40m.
In the past several weeks, Milan has made major progress in obtaining a stadium. First, the technical committee of San Donato approved their plan, and now they are buying the site for the stadium. The team paid “less than €20m,” according to Calcio e Finanza, who verified the latter today.

Numerous sources had mentioned €40 million in relation to the capital infusion RedBird had made ahead of time, but that also includes the costs associated with organising and presenting the alternative. Therefore, the cost of the stadium land alone was less than €20 million, with the remaining amount coming from other project-related expenses.

RedBird also included a form of “safety clause” when Milan acquired Sportlifecity, a company that had previously received several permits in San Donato, as noted by Calcio e Finanza. In essence, RedBird could use the space for other projects even if the Rossoneri stadium idea failed.

An excerpt of the agreement stated, “The company could freely transfer the shares and commitments to companies of the Redbird group, which has already informally declared to AC Milan its possible interest in this regard, hypothetically, if AC Milan were to have no interest in developing any project in the area.”

A portion of the contract read, “The company could freely transfer the shares and commitments to companies of the Redbird group, which has already informally declared to AC Milan its possible interest in this regard, hypothetically, if AC Milan were to have no interest in developing any project in the area.”