AC Milan and Inter, who use San Siro in their home games, have reached an agreement on collaboration to create a modern and innovative stadium.
"Both AC Milan and Inter signed an agreement to work together to build a modern and innovative stadium," Milan said in a statement.
"They are considering a number of possible options, including the redesign of San Siro, and have already begun to analyze the various alternatives by forming a working group," said Nadia.
Both clubs expressed a desire to quickly start the project and provide a modern stage for the masses as soon as possible.
The San Siro is the largest stadium in Italy with over 80,000 seats and has hosted four Champions League titles in 1965, 1970, 2001 and 2016, the last of which was crowned the eleventh in the history.