The end of Eden Park?

Eden Park may soon go by another name. Ross Land / Getty Images

The naming rights to Eden Park - Auckland's showpiece World Cup venue - could be sold to the highest bidder in an effort to help raise the money needed to upgrade the stadium.

A week after New Zealand secured the 2011 Rugby World Cup hosting rights, the Eden Park Trust Board now has to come up with the funds to boost the capacity of the park from a 47,500-seat stadium to a 55,000-plus seater. And that could mean selling off the potentially lucrative naming rights for the ground.

Although Eden Park Trust Board chief executive John Alexander said the board would be reluctant to pursue such a move, he could not rule it out as an option.

"I would hate to see the name Eden Park go, as it is internationally recognised, but if we are desperate we will have to consider it," he said.

And, according to marketing experts, it would be an attractive proposition for large corporates keen to reap the benefits of widespread national and international exposure.

Martin Gillman, chief executive of media buyer Total Media, said a prime location like Eden Park would command a seven-figure fee for naming rights spread over a long-term period - possibly three to five years.

He believed the ASB Bank, which currently has the sponsorship of Eden Park's main stand, would be a frontrunner for taking over the rights.

Dr Rod Carr, of Jade Software, which has naming rights to Christchurch's Jade Stadium, said the price tag could vary considerably depending on factors including the timing, upgrade expense, number of interested parties, and whether the rights covered the stands and the stadium.

"That's why they tend to be unique events rather than in the market for peanuts," he said.

If the board proceeds with the move, it will end a century of tradition for New Zealand's most famous ground. It has been known as Eden Park since it was built in 1900 and has hosted some memorable sporting fixtures - including the All Blacks' 1987 World Cup win.

Mr Alexander said once a adhesion was made on either of the two options to revamp Eden Park, it would then be a case of quickly finding the funds.

The board has two main redevelopment options, both involving the extension of the main ASB Bank north stand to replace the small northeastern stand.

Option one, estimated to cost up to $45 million, will see the construction of a large temporary stand above the west stand, raising the capacity from 47,500 to 55,000.

Option two, costing up to $100 million, would demolish and reconstruct the ageing south and southwest stands. That option would lift the stadium's capacity to 60,000.

Eden Park is earmarked to host at least one World Cup quarter-final, both semifinals, the third and fourth playoff match and the final.

Mr Alexander said the board was already meeting with key organisations such as the two Auckland councils, which may be able to help finance the redevelopment, especially through interest-free loans or grants.

The board would also borrow around $15 million in bank loans and will talk with the NZRFU about some of the proceeds of ticket sales going towards stadium costs.

An approach to the Government for funding was seen as a last resort, Mr Alexander said.

If those options failed to secure the necessary funding, selling off the naming rights was an option that could be explored, he added.

Mr Alexander said Eden Park was one of the few stadiums in the country that received no financial support from local councils.

Auckland City Council spokesperson Cameron Parr said it was open to looking at any proposal to help with the redevelopment of Eden Park.

"Just like when the America's Cup was here and Auckland gained the Viaduct Basin, the Rugby World Cup provides a great chance to leave behind a world-class facility for the region," he said.

- HERALD ON SUNDAY