AC Milan president Paolo Scaroni has confirmed that the San Siro would have to be demolished to allow the construction of a more modern stadium.
Both Milan and Inter have discussed the possibility of leaving the legendary stadium, with many fearing it simply is not good enough to compete with some of the top stadiums in the world.
Speaking to Il Sole 24 Ore (via Gianluca Di Marzio), Scaroni suggested that building a new stadium would be the best option for all involved.
He said: "I would miss the San Siro, but I have more nostalgia for a successful Milan side. If we build the stadium on public land, it seems obvious that the structure remains the same. It would not be a problem for us, as long as Palazzo Marino takes it into account in deciding the duration and conditions of the lease.
"My goal is to give Milan the most beautiful stadium in the world. And there is only one way to do that: build a new stadium from scratch.
"The restructuring is impractical for obvious reasons. Pervasive jobs cannot be conducted when playing every three days and moving away from the city for three years seems unacceptable to me."
Finally, Scaroni discussed the possibility of sharing the new stadium with rivals Inter, stating that it makes plenty of sense from a business point of view.
He said: "It is useful for reducing costs and because the technology allows to change the brand and the colours of the system easily. Today, instead, we spend four million per year on these interventions.
"On the other hand, Milan and Inter, unlike other 'fellow' teams, have shown that they know how to live together. I don't see any problems in this sense."