West Ham United’s Olympic Stadium looks set to be renamed the Mahindra Stadium according to reports that the stadium’s owners, the London Legacy Development Corporation (LLDC), are in advanced talks over naming rights.
The LLDC are understood to be close to finalising a £6m a year deal with the Mahindra Group, an Indian technology giant and car maker.
As part of West Ham’s 99 year lease agreement with the LLDC and Newham borough the club will be entitled to a percentage of any stadium naming rights deal and would receive around £1m annually from the Mahindra deal.
While not a major player in the UK the Mumbai-based Mahindra generates annual sales of £11bn and operates businesses spanning energy, defence and farm equipment.
The company’s profile is expected to rise in the UK where in recently launched its new electric car.
The drawn out pursuit of a stadium naming rights partner has been carried out by the LLDC, with sports marketing giant IMG initially targeting a £15m-a-year backer.
Following a lack of success in the pursuit Sir Martin Sorrell’s new firm ESP was then brought on board to help close a deal.