AC Milan and Inter Milan have officially announced a naming rights partnership with the Italian insurance giant Generali for their new joint stadium. The clubs revealed on Thursday that the venue will be known as Generali Stadium upon its completion. Sources confirmed to ESPN that the agreement is worth €650 million, approximately $725 million, spanning a 20-year period. In a joint news release, the clubs described the pact as one of the largest stadium naming rights agreements in global sports history.
The new facility is scheduled to open in 2031, with construction expected to commence in 2028 pending necessary approvals. The project aims to replace the historic San Siro, originally built in 1926 and renovated for the 1990 World Cup, which currently lacks modern facilities compared to other top European venues. The new 71,500-seat arena is being driven by the respective owners of the clubs, RedBird Capital Partners for AC Milan and Oaktree for Inter. Last November, the two Serie A teams purchased the land from the city for €197 million ($230 million) to facilitate the demolition of the old ground and the construction of the new venue.
Architectural plans were unveiled alongside the naming deal, featuring a collaboration between Foster+Partners and MANICA. The design team includes Lord Norman Foster and David Manica, who previously worked together on London's Wembley Stadium. The release states that the stadium's design is inspired by the intricate craftsmanship of the Duomo di Milano. It will feature two seating tiers forming a continuous 360-degree bowl, with inclinations of up to 37 degrees intended to amplify atmosphere and visual impact. At either end, the iconic "Curvas" will rise as single, steep walls to draw fans closer to the field of play.
The project is part of a broader urban regeneration plan for the area that includes public spaces, green areas, and leisure and retail zones. The clubs view building a joint modern arena as vital to boosting matchday revenue, which currently lags behind their European rivals. This development also aligns with growing pressure in Italy to upgrade stadium quality, driven by foreign investment in Serie A and the need for functional venues to co-host the 2032 European Championship with Türkiye. For context, the Generali deal follows a reported $700 million agreement in November 2021 between Crypto.com and the owners of the Los Angeles Lakers, Kings, and Sparks.
Sources: ESPN Soccer.