AC Milan and Inter Milan have announced a landmark naming‑rights agreement for their joint new stadium, which will open in 2031. The clubs revealed that Italian insurer Generali will secure the stadium’s name for a 20‑year deal worth €650 million (about $725 million), making it one of the most lucrative stadium naming contracts in sports history.
The announcement came at a launch event where the clubs unveiled renderings of the 71,500‑seat venue, which will be called Generali Stadium. The project is being driven by the clubs’ owners – RedBird Capital Partners for Milan and Oaktree for Inter – and will see the former San Siro site demolished and replaced by a modern arena. The stadium’s design is a collaboration between Foster+Partners and MANICA, the same duo that previously worked on London’s Wembley Stadium. Inspired by the intricate craftsmanship of Milan’s Duomo, the layout features two seating tiers that form a continuous 360‑degree bowl, with steep “Curvas” walls at each end to bring fans closer to the action. Seating inclinations of up to 37 degrees are intended to enhance atmosphere and sightlines.
Construction is slated to begin in 2028, with the first match scheduled for the 2031‑32 season, pending the necessary approvals. The project is part of a broader urban regeneration plan that will add public spaces, green areas, leisure and retail facilities to the surrounding district. Milan and Inter purchased the land for the new stadium in November last year for €197 million (about $230 million), clearing the way for the demolition of the historic San Siro, which was built in 1926 and renovated for the 1990 World Cup but lacks many of the amenities found in contemporary European venues.
The €650 million deal places Generali among the top tier of naming‑rights agreements, following the 2021 Crypto.com deal that paid $700 million over 20 years for the Los Angeles arena that hosts the Lakers, Kings and Sparks. For the two Serie A clubs, the new stadium is seen as essential to boosting match‑day revenue, which has lagged behind that of their European rivals. Italy’s push to upgrade stadium standards is also driven by the need for modern facilities ahead of the 2032 European Championship, which the country will co‑host with Türkiye. The clubs will now move the project into the design and planning phase, with construction to start in 2028 and the first game expected in the 2031‑32 season.