Milan clubs commit to 2.3 billion euro stadium replacement

Football fans in Milan will move to a new venue starting with the 2031/32 season. The current Giuseppe Meazza stadium, home to both Inter and AC Milan, will be replaced by a structure named Generali Stadium. The name reflects a commercial rights deal with the insurance company Generali.

The project was confirmed this Thursday at a press event held at the Sforzesco Castle. Local media reported that the current stadium has a finite lifespan and is set to give way to the new facility. The announcement marked the final step in naming the project after years of planning.

The total construction cost is estimated at 2.3 billion euros. Of that sum, 700 million euros is allocated specifically for the sports facility. The remaining funds will cover land acquisition and other development costs. This represents the largest investment in the history of both clubs.

San Siro SPA, the entity managing the project, has already secured a 354 million euro loan. A group of Italian and foreign credit institutions provided the funds. These loans will support the purchase of land and the initial phases of construction. The clubs will manage the operation through project finance, using their own capital and long-term debt. Revenue from the stadium itself will be used to repay the loans and bonds.

The new arena will hold 71,500 spectators. Thirteen thousand of those seats are designated as premium. The design features a hexagonal shape with two rings. The stands closest to the pitch will be low, while the far ends will be vertical. All stands will be covered. The site will include parking, retail spaces, and restaurants. It will also feature the best lighting in Italy, with large screens and LED displays between the two rings.

Work on the new stadium is expected to begin in the summer of 2027, once all permits are finalized. Completion of the main structure is targeted for the end of 2031. This timing ensures the venue is ready for the 2032 European Championship. The new building will be soundproofed to reduce noise for nearby residents.

The current San Siro will undergo partial demolition and rehabilitation. That renovation project is estimated to cost 100 million euros and will take two years to complete.