'We fell behind' - what does new San Siro deal mean for AC Milan and Inter?

AC Milan and Inter's new shared stadium will be called Generali Stadium after the Italian insurance firm paid €650m for naming rights through 2052, one of sport's most lucrative deals.

AC Milan and Inter revealed plans for their new 71,500-seater stadium on Thursday, which will replace the iconic San Siro from 2031 onwards. The arena will be called Generali Stadium after Italian insurance company Generali agreed to pay approximately €650m (£542m) for naming rights through to 2052 — described by AC Milan owner Gerry Cardinale as "the biggest stadium naming-rights deal in the history of global sports."

The two clubs, owned by separate US-based investment firms, jointly purchased San Siro and its surrounding land for €197m in 2025. The new stadium is expected to cost about €1.2bn to construct. Cardinale told BBC Sport that the stadium is fundamental to transforming their economic model, allowing them to compete with Europe's biggest clubs through increased matchday revenues, hospitality, premium experiences and commercial opportunities. The naming rights deal breaks down to approximately £27m per season, or £13.5m per year per club.

The plans have faced opposition from some supporters, with Inter fans protesting outside the announcement venue carrying banners reading "You will never extinguish the lights at San Siro." Cardinale argued that Italian football has fallen behind the Premier League in commercial development and infrastructure, and that the new stadium represents a massive step forward not just for AC Milan but potentially for all of Serie A.