The new stadium for AC Milan and Inter will be called Generali Stadium, after the two clubs sold the naming rights to Italy’s largest insurer ahead of a planned opening for the 2031-32 season. The clubs presented the deal at a briefing at the Castello Sforzesco in Milan, describing it as one of the most significant stadium partnerships anywhere.

The money behind the arrangement is substantial. The clubs expect it to generate around €650 million over the long term, spanning roughly two decades. Generali’s name will sit on the outside of the venue in clear view and the insurer will also become Official Insurance Partner of both Milan and Inter.

There is a catch written into the agreement. Under UEFA rules, naming rights cannot be used in the Champions League and other European competitions, so for those fixtures the ground reverts to Milano Stadium. The same restriction already applies elsewhere: Turin’s Allianz Stadium becomes Juventus Stadium for European nights, and London’s Emirates is referred to as Arsenal Stadium.

The design shown at the briefing points to a bowl-shaped arena raised on a podium, with a hexagonal exterior. The Generali name is set to be attached to the venue from the day it opens.

The deal adds to a growing list of Serie A grounds tied to a corporate name. Juventus play at the Allianz Stadium, Atalanta at the New Balance Arena in Bergamo, Cagliari at the Unipol Domus, Udine at the Bluenergy Stadium and Sassuolo at the Mapei in Reggio Emilia. Monza’s ground carried the U-Power name until last year, when it returned to its old title.

The new Generali Stadium replaces the San Siro, with the clubs having resolved the naming rights question that covers the agreements under which a company ties its name to the stadium for league matches.