After prolonged waiting Fiera Milano Foundation confirmed AC Milan as preferred bidders for their exhibition site redevelopment. This opens the road to new stadium for 48,000 people.

Milan were considered favourites for a long time, but Fiera Milano Foundation had been postponing their final decision since June. Finally tonight it was confirmed that AC Milan are the preferred bidder to redevelop current exhibition site in Portello, near Casa Milan.

Barbara Berlusconi celebrated the decision, calling it the first, but crucial step. And rightly so. Without this decision the entire plan for new 48,000-seater would fall through, but now AC Milan still need to submit all documents to the local council and go through the bureaucratic proceedings to gain planning permission.

As AS Roma learned in Rome, that may take many months. But AC Milan are still on schedule to break ground next year and deliver the stadium during the 2018/19 campaign. Expected to cost €300-320 million ($330-350m), the building will become Italy’s first “urban stadium”

It’s hoped to promote public transport use among fans as surrounding space will be scarce and used by secondary commercial uses. Together with football-connected revenue the building is estimated to generate €50-80 million annually.