AC Milan and Inter Milan have secured a landmark naming rights agreement with Italian insurance giant Generali for their upcoming shared stadium, marking a major milestone in the development of the project. Valued at €650 million ($725 million) over 20 years, the deal ranks among the most valuable stadium naming agreements in global sports. The new 71,500-seat venue will be known as Generali Stadium and is scheduled to open in 2031, subject to the necessary approvals.

The project is backed by AC Milan owner RedBird Capital Partners and Inter's ownership group, Oaktree. Its architectural design will be developed through a partnership between Foster+Partners and MANICA, led by renowned architects Norman Foster and David Manica, who previously worked together on London's Wembley Stadium. Inspired by the craftsmanship of Milan's iconic Duomo cathedral, the stadium will feature two seating tiers forming a continuous 360-degree bowl, creating an immersive experience for supporters.

One of the stadium's defining features will be its steep Curva sections at both ends, designed to bring fans closer to the action and strengthen the atmosphere during matches. Seating angles will reach up to 37 degrees, enhancing visibility and creating a more intense matchday environment. These design elements reflect the clubs' ambition to deliver a modern football venue that combines architectural quality with a strong connection between players and supporters.

Construction is expected to begin in 2028, with the first match targeted for the 2031-32 season. The development will also form part of a wider urban regeneration initiative, incorporating public spaces, landscaped green areas, entertainment facilities and retail destinations. AC Milan and Inter purchased the stadium site from the city of Milan for €197 million ($230 million) in November, clearing a major obstacle to replacing the historic San Siro with a purpose-built modern arena.

The decision to build a new stadium reflects both clubs' ambitions to increase matchday income and compete financially with Europe's leading teams. Although San Siro remains one of football's most recognisable venues, its ageing infrastructure no longer meets the expectations of modern stadium operations. The project also comes as Italy faces mounting pressure to improve its football facilities ahead of Euro 2032, which it will co-host with Türkiye. Generali Stadium is therefore expected to play an important role in strengthening Milan's sporting infrastructure and the wider future of Italian football.