AC Milan and Inter: how much is the stadium deal with Generali worth, and how long does it last? Record figures for Italy and among the highest in Europe
Inter and AC Milan have unveiled the plans for their new stadium and a naming rights deal that has already been signed. But how long will the deal run, and how much is it worth?
The wait is over. Inter and AC Milan, alongside architecture firms Manica and Foster, unveiled plans and a scale model for the clubs' new shared stadium yesterday at Milan's Castello Sforzesco. It will replace the current Giuseppe Meazza in San Siro.
Modern, cutting-edge, attractive and functional for the clubs, the new stadium will transform the entire neighbourhood around it. Its most distinctive feature will be the naming rights, with the sponsor's name giving the stadium its name: Generali Stadium. Inter and AC Milan have already signed an agreement with one of Italy's leading insurance companies and, according to Calcio e Finanza, both the value and the duration of the deal are already record-breaking in Italy and across Europe.
650 million in 25 years
The length of the agreement stands out. Generali have committed to the naming rights for the two clubs' new stadium for a full 25 years, a record term for a commercial contract of this kind, which usually lasts no more than 5 or 10 years.
According to CF, the deal is worth around €650 million, paid over its full term.
That works out at an average of €26 million per season for the two clubs to split, leaving around €13 million each.
Record for Italy
Even at €13 million apiece, rather than €26 million combined, the revenue for the two clubs is already a record in Italy.
New Balance, for example, pay Atalanta €2.4 million a season for the naming rights to the Bergamo stadium, while Bluenergy pay €1 million a year for Udinese's stadium. The wider agreement between Mapei and Sassuolo offers no precise benchmark, however, because it covers not only the stadium but also shirt sponsorship and many other sponsorships within the two branches of the business run by the Squinzi family.
In terms of club size, Juventus offer the closest comparison. Allianz agreed a ten-year deal with them in 2020 worth €103.1 million, averaging around €10.3 million a year. That annual figure is well below the combined €26 million for the Generali Stadium and also below the €13 million each club receive annually. The Allianz deal also covers sponsorship of the team's training shirts, so the amount attributable to the stadium is lower still.
Almost at the top in Europe
Inter and AC Milan will receive a significant sum, in line with naming-rights deals at stadiums belonging to Europe’s top clubs.
At Bayern Munich’s Allianz Arena, Allianz invests €13 million a year under a 10-year deal. That matches the annual amount Inter and AC Milan will receive, although Generali is investing twice as much over a 25-year term. Signal Iduna Park, meanwhile, brings in around €11 million for Bayern Munich under a nine-year deal.
Barcelona’s Spotify Camp Nou brings in slightly more, with a deal worth around €20 million a year until 2034, though that also includes shirt sponsorship and other commercial rights. Riyadh Air Metropolitano, Atletico Madrid’s stadium, is expected to remain Europe’s leader. Its nine-year sponsorship deal is worth between €250 million and €300 million, equivalent to around €28–33 million a year for the Colchoneros.
