THE naming rights for the Bowl Stadium and the NSC could be sold to raise money for the Department of Community, Culture and Leisure.

The department has invited companies who are interested in branding either or both venues to make an offer in writing by September 30.

Community, Culture and Leisure Minister David Cretney said: "This is a new initiative for the Department of Community, Culture and Leisure but is well established in the UK.

"It's a way of generating more income from our assets and hopefully reducing our funding from the taxpayer.

"It's a potential revenue source we have to investigate in the current economic climate although the department will not be obliged to accept any of the applications. Naming rights will only be awarded if it's considered appropriate for each venue."

Companies interested in obtaining the naming rights must include their proposed branding, the contract period proposed – a minimum of three years and a maximum of five years – and the annual fee, excluding VAT, being offered.

A set cost or value of the naming rights has not been established - interested parties will instead have the chance to determine the value they believe the brand association to be worth.

The successful companies will be able to erect signage and name boards around the venues from January 2012 – subject to approval of its design and durability by the department.

The department has said that it will undertake to ensure the two naming brands will not be directly conflicting in the event that the venues' naming rights are let separately.

Last month it was announced that the department was also looking to appoint a media organisation to acquire the naming rights for the Villa Marina. For more on this story click here.

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