AC Milan and Inter Milan have unveiled plans for their new stadium, which will be named Generali Stadium in what has been described as “one of the biggest deals in global sports”. The venue is expected to be completed in 2031.
Italian insurance group Generali will pay €650 million for the stadium’s naming rights under a 20-year agreement, according to ESPN.
The deal was announced at an event where the clubs presented the first images of the new venue, which will have a capacity of 71,500 spectators.
“More than a football stadium, the project represents a long-term investment in the future of two of world football’s most historic Clubs, a new home for generations of supporters, and a destination designed to contribute to the cultural, economic and urban development of the city,” the two clubs said in a joint statement.
Generali Stadium is expected to be one of the venues hosting the 2032 European Championship, which will be jointly organised by Italy and Turkey.
The new stadium project is being led by the clubs’ respective owners: RedBird Capital Partners, which owns AC Milan, and Oaktree, the owner of Inter Milan.
Construction is expected to begin in 2028, with the stadium scheduled to be completed in time for the first match of the 2031-32 season.
The new Milan stadium is also part of a broader urban regeneration plan for the area, which will include public spaces, green areas, leisure facilities and retail outlets.
AC Milan and Inter Milan purchased the historic San Siro stadium from the city of Milan in September last year for approximately €200 million, paving the way for its demolition and the construction of a new venue.