Telecoms company Vodafone are said to be in advanced talks over a deal to rename West Ham's Olympic Stadium the Vodafone Arena.
Vodafone and the stadium's owners are close to agreeing a six-year deal, according to The Telegraph. And if all goes through, the stadium will take up the name at the beginning of next season.
Vodafone closing in on multi-million pound deal to rename West Ham's London Stadium https://t.co/5OZa1LHxPu— Telegraph Football (@TeleFootball) April 4, 2017
Naming rights were put up for sale by owners the
Indian company Mahindra were in discourse regarding a naming rights deal last year, but the process collapsed due to differences among the parties.
Vodafone has since stepped in, and are almost done tying up negotiations ahead of the next campaign.
The London Stadium is set to be renamed the Vodafone Arena for the next 6 years. pic.twitter.com/fLQRyBhdpm— Uber West Ham (@UberWestHam) April 4, 2017
West Ham are set to rake in 40 per cent of the naming rights revenue due to their lease; however, if the club are relegated, their earnings will drop down to 35 per cent.
The initial contract proposal will earn London E20 less than £4m per year, but the value will increase over time, allowing the Hammers to earn some decent revenue.
Vodafone and London Legacy Development Corporation have, to date, refused to comment on the matter.