The vote followed nearly 12 hours of debates and still requires official confirmation by the city government. The 99-year-old stadium is famously known as San Siro when AC Milan plays and Giuseppe Meazza when Inter hosts, and the clubs could acquire it and surrounding areas for €197 million.
San Siro has not been modernised since the 1990 World Cup, and past attempts to renovate it failed.
The clubs now plan to build a new 71,500-capacity stadium as part of a wider urban regeneration project, aiming for completion in time for Euro 2032, which Italy will co-host with Turkey.
Architectural firms have already been appointed to design the new facility. “The clubs look ahead with confidence and responsibility to the next steps that will create a world-class stadium – a new architectural icon for Milan and a symbol of football passion worldwide,” the clubs said in a joint statement.