A reported €650 million, 20-year naming deal puts a corporate brand on one of soccer’s most famous addresses and helps fund a €1.2 billion build.

San Siro’s successor will carry an insurance company’s name. AC Milan and Inter have unveiled a naming-rights deal with Italian insurer Generali for the 71,500-seat stadium they plan to build together, SportsPro reported, and the venue will be called the Generali Stadium.

The price is the headline. Generali will pay €650 million, about $725 million, over 20 years, according to media reports led by The Athletic, which first reported the fee. The clubs and Generali have not publicly confirmed those terms, which would work out to about €32.5 million a season if accurate. Generali also becomes the official insurance partner of both clubs.

That would beat the early targets. When the clubs began sounding out sponsors last November, they were aiming for €25 million to €30 million a season, with Generali among the possible partners, Calcio e Finanza reported at the time. The Italian outlet put Juventus’s naming deal with Allianz at €7 million to €10 million a year. Football Ground Guide described Generali as the frontrunner then. A sponsored stadium name is rare in Serie A, and the new venue will be one of only a handful.

The money goes toward a large project. The new stadium is expected to cost €1.2 billion, with designs by Foster + Partners and Manica. Construction is slated to start in 2028, with opening targeted for the 2031/32 season. The clubs, owned by RedBird Capital Partners (Milan) and Oaktree (Inter), bought the land from the city for €197 million last November.

“The Generali Stadium will become a new symbol of Milan,” Generali chairman Andrea Sironi and CEO Philippe Donnet said in a joint statement. For now it is a symbol on paper. The next things to watch are financing for the remaining build costs and whether the 2028 groundbreaking holds. Generali has signed on to name a building that does not exist yet.

Sources

• SportsPro – AC Milan, Inter strike ‘€650m’ Generali naming rights deal for new stadium
• Calcio e Finanza – San Siro, obiettivo 25-30 milioni annui dai naming rights: spunta Generali
• Football Ground Guide – Naming rights battle for new San Siro begins as Inter and AC Milan eye £26m-per-season deal

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