Inter Milan and AC Milan unveiled plans for a new 71,500-seat stadium in Milan that is slated to replace the historic San Siro by the 2031–32 season, sport.orf.at reported. The joint project, carrying estimated construction costs of 2.3 billion euros, will be named the Generali Stadium and is intended to serve as a host venue for the 2032 UEFA European Championship.
Generali Stadium Design and Financing Plans
The newly proposed arena features a radical architectural departure from the current rectangular stadium. Designed by London-based firm Foster + Partners alongside the US studio Manica, the structure adopts an oval shape with an x-shaped steel exterior framework and a double-curved roof, Sport Bild reported. The seating bowl will be reduced from three tiers to two, incorporating steep 37-degree stands behind the goals designed to maximize proximity to the pitch.
Together with @AcMilan and @Inter Milano, we have unveiled Generali Stadium, the future home of the two Clubs.As the future Official Insurance Partner of both Clubs, Generali will be part of this journey, continuing to promote sport as a powerful driver of wellbeing, inclusion… pic.twitter.com/GSsK5T18Ci
Financing for the arena is backed by the clubs’ respective ownership groups—RedBird for AC Milan and Oaktree for Inter Milan, Sport Bild reported. To offset costs, the clubs secured a 20-year naming rights agreement with insurance giant Generali. According to sport.orf.at, the deal is valued at approximately 650 million euros, providing each club with roughly 16 million euros per season. Laola1 noted an alternative valuation framework for the naming agreement, citing a 25-year term totaling 650 million euros with annual payments of about 26 million euros.
Urban Redevelopment and Multipurpose Facilities
Surrounding the Generali Stadium, a 280,000-square-meter urban regeneration project will include a shopping center, office spaces, a hotel, a museum, a medical center, and club fan shops, sport.orf.at reported. Green spaces across the district are planned to expand to 148,000 square meters. Architect Norman Foster described the project as an integration into the city’s municipal infrastructure, comparing its civic role to the Galleria Vittorio Emanuele II, Ligaportal reported.
Economic impact estimates project three billion euros generated during the construction phase and 2.7 billion euros annually once operational, sport.orf.at reported. Beyond Serie A fixtures, the facility is engineered to host rugby and American Football matches, alongside major concert events, sport.orf.at and Sport Bild reported.
Fan Protests and Unresolved San Siro Future
The public presentation at the Castello Sforzesco drew opposition outside the venue, where supporters displayed banners bearing slogans such as “You will never extinguish the lights of San Siro” and chanted against the demolition of the century-old ground, Sport Bild reported. Online reactions similarly questioned the modern aesthetic, with critics comparing the exterior renderings to domestic appliances, Sport Bild reported.
The ultimate fate of the existing Stadio Giuseppe Meazza remains undetermined. While club proposals have long targeted demolition, prior city-led efforts to tear down the arena were blocked due to declarations of cultural interest, sport.orf.at reported. The venue recently marked its 100th anniversary in February by hosting the opening ceremony of the Winter Olympic Games, sport.orf.at reported.
Construction Timeline and Tournament Readiness
Construction on the Generali Stadium is scheduled to begin in 2028, with a targeted completion ahead of the 2031–32 football season, Laola1 and Sport Bild reported. The venue is positioned to serve as a centerpiece for the 2032 European Championship, jointly awarded to Italy and Turkey, sport.orf.at reported.
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