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AC Milan and Inter Milan say they are "very pleased" after the city council approved the sale of the San Siro, a move that could lead to the iconic stadium being demolished
A sale of the two Milan clubs' home was approved after a lengthy overnight vote, with debates taking place for almost 12 hours.
The approval could lead to the 99-year-old ground and its surrounding areas being sold to both clubs for 197m euros (£172m), but it still needs to be officially confirmed by the city government.
The clubs said it is "a historic and decisive step for the future of the clubs and the city".
The San Siro has been AC Milan's stadium since 1926, but it has not been modernised since the 1990 World Cup.
They share the ground with city rivals Inter as joint tenants and repeated attempts to modernise it have failed.
The clubs plan to build a new 71,500-capacity ground as part of a large urban regeneration project, with there reportedly being aims for it to be ready in time Euro 2032, which Italy are joint hosts of alongside Turkey.
Last week, the clubs appointed architectural firms to design a new ground.
"The clubs look ahead with confidence and responsibility to the next steps of the process that will lead to the creation of a new stadium meeting the highest international standards - a world-class facility destined to become a new architectural icon for Milan and a symbol of the passion of football fans around the world," a joint statement from the clubs said.
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