The Olympic Stadium could be renamed the Mahindra Stadium "after it emerged the venue's owners were in advanced talks with the Indian conglomerate over its naming rights during West Ham United's tenancy," according to Ben Rumsby of the London TELEGRAPH. The London Legacy Development Corp. is "close to concluding a deal" worth around £6M ($8.6M) a year -- £1M ($1.4M) "of which will go to West Ham -- with the Mahindra Group, a technology giant and car maker." An announcement is planned before West Ham says "farewell to Upton Park at the end of this season," after which the club will become anchor tenants of the £701M ($1B) Olympic Stadium on a 99-year lease. Although Mahindra is not a household name in Britain, it has annual sales of £11B ($15.8B) and "businesses spanning energy, defence and farm equipment." This week "saw it launch its new electric car" in the U.K. A deal with Mahindra would "also end the LLDC’s tortuous search for a title sponsor," which saw sports marketing firm IMG initially target a £15M ($21.6M)-a-year backer (TELEGRAPH, 4/19).
IN TALKS: In London, Gary Jacob reported stadium landlord LLDC has been in discussions "with a number of technology companies about what the stadium will be called and whether it will change its name to that of the sponsor after the deal." It is "not permitted to be called the Olympic Stadium, under International Olympic Committee rules." West Ham will pay £2.5M ($3.6M) annual rent at the site in east London (LONDON TIMES, 4/19).
