On 19 September 1926, Milan and Inter inaugurated the San Siro with a friendly. Inter won, 3-6.
Although the two teams share the stadium now, it originally belonged to Milan. The idea for the new stadium came from club president Piero Pirelli, who also funded the 5 million lire construction cost. Contrary to the multi-use model of most Italian grounds at the time, architect Ulisse Stacchini rejected the inclusion of a track surrounding the pitch in order to create a more intimate setting for the stadium's capacity crowd of 35,000.
Named the New San Siro Football Stadium after the district in which it is located, the new stadium did not have an auspicious start for Milan, as they lost that first match to Inter, 3-6, then lost their first league match there as well.
The club sold the stadium to the city of Milan in 1935, but the Rossoneri remained the sole occupant until 1947, when Inter became joint tenants. In 1980, it was offiicially renamed after Milan and Inter star Giuseppe Meazza, but it is still commonly referred to as the San Siro.
It has since undergone several expansions and currently holds a capacity of 80,018.