Milan Clubs Secure €650 Million Deal for New 71,500-Seat Arena

Football fans in Milan will lose their current home ground, but they will gain a new venue built specifically for their teams. Inter and AC Milan confirmed plans on Thursday to construct the Generali Stadium, a 71,500-seat arena that will replace the San Siro. The two clubs will continue to share the facility, maintaining a tradition that began in the late 1940s when Inter moved into the existing ground.

The Italian insurance company Generali acquired the naming rights in a deal valued at €650 million, or $725 million, over a 20-year period. Construction is scheduled to begin in 2028. The new stadium will be operational by the 2031-2032 season. This timing aligns with the UEFA 2032 Euro, which Italy and Turkiye will co-host.

The current San Siro, built in 1926, will remain open until the new venue is ready. The clubs stated that the existing structure will only be demolished after the new stadium is fully functional. This approach allows supporters to attend matches at the historic site for a longer duration. The Milan City Council approved the sale of the city's stadium to the two clubs in 2025, clearing a major legal hurdle for the project.

Foster + Partners and MANICA designed the new arena. Lord Norman Foster and David Manica previously worked on the design for London's Wembley Stadium. The structure features an X-frame design and a double-curved roof. The seating arrangement includes two tiers that form a continuous 360-degree bowl. At either end, the Curvas rise as steep walls of support with seating inclinations of up to 37 degrees.

The architectural plan aims to amplify crowd noise. The acoustic design is intended to keep supporters at the center of the experience. The venue will include enhanced accessibility features and varied seating options, ranging from premium areas to standard popular seating. The design draws structural inspiration from the craftsmanship of the Duomo di Milano.

RedBird and Oaktree, the ownership groups for AC Milan and Inter, described the project as a defining investment. They stated the goal is to strengthen sporting competitiveness and unlock future growth. The new stadium is expected to increase match-day revenues for both clubs, bringing their financial infrastructure closer to that of their European rivals.

The San Siro has hosted events beyond soccer, including the opening ceremony of the 2026 Winter Olympic Games. It has also served as a concert venue for artists such as Bob Marley, who performed there in 1980, and Bruce Springsteen, who has called the stadium his second home. The new Generali Stadium will mark the end of the 1926 venue's active use for football.