AC Milan and Inter strike Generali naming rights deal, reports say
AC Milan and Inter have struck a 20-year, €650 million naming rights agreement with Italian insurance firm Generali for a new 71,500-seat stadium that will replace the San Siro, according to reports. The deal, announced on the eve of the Milan Derby, is slated to help offset the €1.2 billion cost of constructing the new venue, which will be known as the Generali Stadium.
Stadium Funding Aims to Close European Revenue Gap
The reported €650 million price tag would surpass the US$700 million agreement signed by Crypto.com in 2021 to sponsor the Los Angeles arena home to the Lakers, Kings, and Sparks, according to sportspro.com. Reports similarly noted that the financial commitment eclipses that previous Los Angeles benchmark. The funding addresses a glaring revenue gap between the Milan clubs and top European competitors. Deloitte’s Football Money League placed Inter 11th and AC Milan 15th for the year, with Inter pulling in €103 million and AC Milan generating €87 million in matchday revenue. By comparison, Real Madrid brought in €233 million following the modernization of the Santiago Bernabéu.
The project is spearheaded by the clubs’ respective US ownership groups: RedBird Capital Partners for AC Milan and Oaktree for Inter. These ownership groups purchased the required land from the city last November for €197 million. Beyond the naming rights, Generali will also serve as the official insurance partner for both clubs.
Architecture Inspired by Milanese Heritage and Upcoming Timelines
Construction on the Generali Stadium is scheduled to begin in 2028, with the venue expected to open for the 2031/32 Serie A season, pending necessary approvals. The stadium will also serve as a flagship venue when Italy co-hosts the 2032 European Championship alongside Türkiye, as reported by Yahoo Sports. Architects Foster + Partners and Manica designed the facility, drawing inspiration from the Duomo di Milano. Renderings feature a continuous 360-degree bowl split across two tiers, with single, steep walls in the Curvas featuring seating inclinations up to 37 degrees to maximize matchday atmosphere.
Stadium naming rights deals remain rare in Italian soccer, where only five of the 18 top-flight Serie A clubs carry a corporate sponsor’s name due to historic fan resistance and heavy bureaucracy. Juventus stands as a recent exception, securing a naming rights agreement with Allianz in 2017 six years after opening their new ground. The San Siro, originally built in 1926 and heavily renovated for the 1990 World Cup, faces eventual demolition once the new arena is ready.
Immediate On-Field Business and Open Questions
While the long-term infrastructure project moves forward through a rare boardroom collaboration, both clubs turn their immediate focus to the pitch for the Derby della Madonnina in Serie A. Questions remain regarding the final municipal approvals required before heavy machinery moves onto the site in 2028, and whether the estimated €1.2 billion total construction budget will hold firm amid ongoing material cost fluctuations.
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More on Generali Stadium
🚨🏟️ OFFICIAL: AC Milan and Inter unveil new Generali Stadium from season 2031/32!San Siro will be demolished according to current plan.The two clubs will both build new stadium with the naming rights sold to Generali until 2052 for €650M. pic.twitter.com/ET12egYK2J
AC Milan and Inter Milan have unveiled plans for a new €1 billion Generali Stadium, with construction expected to begin in 2028 and the 71,500-capacity venue targeted to open in time for the 2032 European Championship, replacing the iconic San Siro. #BeyondSport pic.twitter.com/rbnHx99Ba2