AC Milan and Inter Milan have announced a landmark naming-rights agreement with Italian insurance giant Generali for their planned new shared stadium, set to replace the historic San Siro. The 20-year deal, valued at approximately €650 million (£542m), will see the 71,500-seat venue named Generali Stadium from its targeted opening in 2031 until 2052, making it one of the most lucrative stadium naming agreements in global sports history.
The two clubs, owned by separate US-based investment firms, jointly unveiled the stadium design on Thursday. The new arena is expected to cost around €1.2 billion (£1bn) to construct and will be built adjacent to San Siro, which will be demolished once the new stadium is complete. AC Milan and Inter purchased the San Siro site for €197 million (£164m) in 2025.
AC Milan owner Gerry Cardinale described the agreement as "the biggest stadium naming-rights deal in the history of global sports" and emphasized that the stadium fundamentally transforms the clubs' economic model through matchday revenues, hospitality, premium experiences, and commercial opportunities. He noted that Italian football has fallen behind the Premier League in commercial development and infrastructure, and that this project is a massive step forward for Serie A.
Sport finance expert Dan Plumley of Loughborough University said the 20-year guaranteed income provides financial security, with the annual payment of roughly £27 million (£13.5m per club per season) comparing favorably to Barcelona's €20m-per-season deal with Spotify for Camp Nou. Plumley added that securing a naming partner early ensures the sponsor becomes part of the new stadium's identity, a smart business move that would have been impossible at San Siro due to its entrenched name.
The announcement has drawn opposition from some supporters, with Inter fans protesting outside the launch event carrying banners reading "You will never extinguish the lights at San Siro" and chanting "Hands off San Siro." The clubs aim to generate additional revenue by selling nearly 12,000 premium and hospitality seats and hosting a wider array of events such as concerts and other sports fixtures.
Plumley also highlighted the cultural challenges of stadium naming rights in England, where fan opposition makes such deals less attractive, and noted that timing and on-pitch performance are key factors for clubs considering selling naming rights, citing Tottenham Hotspur, West Ham, and Everton as examples.
