AC Milan and Inter Milan announced that they have agreed a naming rights deal with Italian insurance company Generali for their new stadium, which is set to open in 2031.
The clubs said in a news release Thursday that the deal represented “one of the largest stadium naming rights agreements in global sport.”
Sources confirmed to ESPN that the deal is worth €650 million ($725 million) over 20 years.
In November 2021, Crypto.com paid a reported $700 million over 20 years — at the time believed to be the richest naming rights deal in sports history — to rename the downtown Los Angeles home of the NBA’s Lakers, the NHL’s Kings and the WNBA’s Sparks.
The agreement with Generali was announced at an event in which the renderings for the new 71,500-seat venue, to be named Generali Stadium, were revealed.
The project is being driven by the club’s respective owners, AC Milan’s RedBird Capital Partners and Inter’s Oaktree.
The stadium’s architects feature a collaboration between Foster+Partners and MANICA, bringing together Lord Norman Foster and David Manica. The two architects previously collaborated on the design of London’s Wembley Stadium.
The project will now go through design and planning phase. Construction is expected to begin in 2028 and the first match targeted for the 2031-32 season, subject to the necessary approvals. The project is also part of a broader urban regeneration plan for the area that will include public spaces, green areas as well as leisure and retail spaces.
According to a joint news release from both clubs, the design is inspired by “the intricate craftsmanship of the Duomo di Milano.” Two seating tiers will form a continuous 360-degree bowl.
Originally built in 1926, the San Siro, with its striking spiral staircases wrapped around the outside of the stadium, was renovated for the 1990 World Cup but lacks the facilities offered by other top European football venues.
At either end, the iconic “Curvas” will rise as single, steep walls, drawing fans forward toward the field of play.
Seating inclinations of up to 37 degrees will amplify both atmosphere and visual impact.
According to the release, the intention is to “bring supporters closer than ever before to the moments that matter most.”
AC Milan and Inter Milan bought the land for the stadium off the city last November for €197 million ($230 million), paving the way for its demolition and the construction of a new venue. The two Serie A clubs have long shared the use of the historic ground, but see building a joint modern arena as vital to boosting their matchday revenue, which lags behind their European rivals.
Italy is under growing pressure to upgrade the quality of its stadiums, driven by foreign investors backing Serie A clubs and the need for more functional venues for the 2032 European Championship, which it will co-host with Türkiye.
