MILAN, March 31 (Reuters) - Italy's tax police searched the offices of Milan's city council on Tuesday as part of an investigation into the sale of the San Siro stadium, home to Serie A soccer clubs
Milan Prosecutors Probe San Siro Stadium Sale, Search City Hall Offices
Investigation into San Siro Stadium Sale and Related Activities
Background of the San Siro Stadium Sale
MILAN, March 31 (Reuters) - Italy's tax police searched the offices of Milan's city council on Tuesday as part of an investigation into the sale of the San Siro stadium, home to Serie A soccer clubs AC Milan and Inter Milan, two sources with direct knowledge of the matter said.
The 100-year-old arena, one of the most famous venues in the world, was last year sold by the city council to the two Serie A clubs, who plan to demolish it and replace it with a new stadium.
Details of the Investigation
Milan prosecutors have placed around a dozen people under investigation on suspicion of bid-rigging and disclosure of official secrets, the sources said, adding that police seized computers and mobile phones.
Milan city council, AC Milan, Inter Milan and M-I Stadio were not immediately available for comment.
Focus on Public vs. Private Interests
Prosecutors are investigating whether the sale of the stadium was structured to favour private interests, through the redevelopment of the area, at the expense of the public interest, the sources added.
Entities and Individuals Involved
The Guardia di Finanza police also searched the offices of M-I Stadio Srl, a company jointly owned by AC Milan and Inter Milan to manage San Siro, as well as the offices and homes of two former city councillors, a city hall manager and a former municipal executive, former managers and consultants linked to the two soccer clubs.
Financial Aspects and Broader Context
Sale Approval and Redevelopment Plans
Milan's city council approved the sale of San Siro and of surrounding land to Inter and AC Milan for 197 million euros ($225.90 million), allowing them to proceed with a 1.5-billion-euro redevelopment plan.
Connection to Previous Urban Planning Probe
The sources said the investigation was an offshoot of another probe into urban planning which led to several arrests last year, including of a local real estate magnate, which were later overturned by Italy's Supreme Court.
Currency Exchange Rate
($1 = 0.8721 euros)
Reporting Credits
(Reporting by Emilio Parodi, additional reporting by Elvira Pollina, editing by Alvise Armellini and Ed Osmond)
