The arena, commonly known as San Siro, will stage European club football's showpiece match for the fourth time after the decision today by UEFA's Executive Committee in Nyon, Switzerland.

Built in 1925 and opened a year later, the stadium is home to both AC Milan and Inter Milan.

It currently has a capacity of almost 80,000 for UEFA competitions.

The stadium hosted the European Cup final in 1965 and 1970, and in 2001 after it had been renamed the Champions League.

Italian capital Rome has also hosted the final on four occasions, at the Stadio Olimpico, in 1977, 1984, 1996 and 2009.

Berlin's Olympiastadion is due to host the 2015 final on June 6.

Read Madrid are the defending champions, having won their 10th title with a 4-1 win over Atlético Madrid in Portuguese capital Lisbon.

The 2016 final has been scheduled for May 28.