The London Stadium could have a new name next season as West Ham's landlords the London Legacy Development Corporation (LLDC) search for a naming rights sponsor.
The venue has never had such a sponsor, with telecommunications giants Vodafone notably backing out of a six-year deal in 2017 worth a reported £20m that would have seen the stadium renamed the Vodafone Arena.
However, according to the Daily Mail, the LLDC are now hoping to find a naming rights partner ahead of next season meaning the London Stadium could have a new name when West Ham start their 2023-24 Premier League campaign.
Currently, the Hammers are renting the stadium under a 99-year lease agreement signed in 2013. It has been estimated that around £40m in potential income has been lost by not finding a sponsor for the stadium, with LLDC chief executive Lyn Garner claiming earlier this year the rights were worth at least £4m a year.
Speaking at a city hall meeting, Garner said: "If West Ham wanted to pay me £4m a year for the right to sell the naming rights, then we can have a conversation. However, what I cannot do is sell the naming rights off cheaply."
Garner also said they had "a number of sponsors engaged at quite a high level". However, West Ham's vice-chair Baroness Karren Brady was critical of Garner's comments, claiming the LLDC were attempting to sell the naming rights to the club "at an inflated price" and that they were only worth around £2m a year.
"The time has come where the prospect of naming rights revenue for West Ham United is dwindling to zero," she warned, as per the Evening Standard. "We will be going to market shortly for a new primary sponsor. The window to sell the naming rights will be impacted once we engage a fresh front of shirt brand partner.
"There needs to be an acceptance that the value in stadium naming rights is not what it once was. Everyone needs to be realistic. Brand partnership with Premier League clubs is in high demand. Stadium naming sponsorship on its own is not."
A spokesperson for the club added: "West Ham United has consistently maintained that the income generated at the stadium could be far higher. We have made clear that we are open to a new approach and are willing to help grow revenues and reduce costs, while improving the London Stadium experience for West Ham United supporters and other visitors.
"As far as we are concerned, no option is off the table. We welcome dialogue with the mayor to realise the potential of this incredible, iconic asset for the capital."
West Ham have one home match remaining this season against Leeds on May 21, having won the first leg of their Europa Conference League semi-final against AZ Alkmaar on Thursday.
