AC Milan and Inter Milan have submitted new proposals for the redevelopment of San Siro to the city's Municipality.
Fresh details of the planned renovation of San Siro, due to stage the Opening Ceremonies of the 2026 Winter Olympic and Paralympic Games, are included in a preparatory document for the feasibility project.
The €1 billion (£878 million/$1.1 billion) proposals both include retaining part of the existing Giuseppe Meazza Stadium structure as part of a multi-purpose complex alongside a new 60,000-seat stadium.
The concepts - designed by Populous and Manica/Sportium, who were shortlisted to design the new stadium in September - retain parts of San Siro within a new retail and sports district.
A running track, cycle path, outdoor gym, skateboard park, five-a-side football pitch and sports museum feature in the plans for the site.
"The two new proposals are the result of a constructive dialogue with the Municipality and have been developed in accordance with the 16 conditions provided by the Municipality and the City Council in November 2019," a joint statement from the clubs read.
"FC Internazionale Milano and AC Milan believe it is essential, especially in light of the current situation, to commence a project that represents more than one billion euros of private investment, which will generate thousands of new jobs and serve as a cornerstone for the future development of the city of Milan and Italian football."
The development is likely to be well received at the Milan Cortina 2026 Organising Committee, which is hoping to use the new stadium for the Opening Ceremonies.