‘We fell behind’ – what does new San Siro deal mean for AC Milan and Inter?
AC Milan and Inter plan to replace the ageing San Siro with a shared 71,500-seat stadium, due to open in 2031 and named the Generali Stadium. The deal could give both clubs a major new source of income as they seek to compete with Europe’s wealthiest sides, though some supporters oppose losing the historic ground.
The Italian insurer Generali has agreed to pay about €650 million (£542 million) for naming rights through to 2052, equivalent to roughly £27 million per season, shared between the clubs. Building the stadium is expected to cost about €1.2 billion (£1 billion); the clubs also plan to sell nearly 12,000 premium or hospitality seats and host concerts and other sporting events. They bought San Siro and surrounding land for €197 million (£164 million) in 2025.
In short
- AC Milan and Inter plan a shared stadium for 2031.
- Generali will pay about €650 million for naming rights.
- The clubs say new facilities can strengthen their finances.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
A new shared stadium could give Milan and Inter steadier, larger revenues from naming rights, premium seating and events, helping them invest and compete with Europe’s richest clubs. Replacing an ageing ground may also offer supporters and visitors more modern facilities while keeping the two clubs in a shared home.
The case against
San Siro is a historic ground with deep meaning for supporters, and replacing it risks losing a distinctive part of Milan’s sporting identity. The project also relies on substantial construction and commercial plans, so some may question whether the promised income and benefits justify the cost and the loss of the existing stadium.
Explained simply
San Siro, also known as the Stadio Giuseppe Meazza, has been the home ground of AC Milan and Inter for decades. The two Milan clubs share it, an unusual arrangement at this level of football, but the stadium is ageing and would need major work to meet modern expectations.
AC Milan and Inter are among Italy’s best-known clubs and compete in Serie A, the country’s top division. They also want to bring in enough money to challenge Europe’s richest teams, whose income from match days and commercial deals can be much higher.
A new shared ground could earn money through naming rights, premium seating and events beyond football. But San Siro is part of the city’s sporting history, so replacing it has drawn opposition from supporters who want the old stadium preserved.