Milan agree stadium project penalty

By Football Italia staff

Milan have agreed terms with the local authorities and will pay a €5m penalty for abandoning their stadium project, much less than the €40m demanded.

The Rossoneri’s holding company, Fininvest, had won the rights to use the site in the Pontello area of the city, but then scrapped plans for a purpose-built arena.

The Fondazione Fiera Milano had demanded €40m in damages for the abandoned project.

Today a statement was released confirming a “friendly conciliation” was reached between the parties, “without recognising responsibility.”

According to news agency Ansa, this means Milan will pay €5m to cover the costs.

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