Glamorgan believe a deal could earn them �1.5m over 10 years

"We believe that a deal could be worth up to �1.5m over 10 years," Glamorgan chairman Paul Russell told BBC Sport.

"Given our finances it's vital to exploit that to the hilt, that's the whole point of the developments at the ground - to secure Glamorgan's future.

"Sophia Gardens could stay as part of the name, but that will be entirely up to the sponsors to decide."

The Cardiff park-land venue is undergoing a planned �7.5m redevelopment, designed to treble the current 5,500 capacity ahead of an Ashes Test match in 2009.

I don't think that there's a huge tradition here, we moved to the ground in 1967 Paul Russell

Russell says that many cricket grounds are following the example of selling their names, although venues like the Brit Oval and Headingley Carnegie have retained their old titles alongside the names of sponsors.

"Just look at what has happened in Swansea with the Liberty Stadium, it's the way forward for sports venues," said Russell.

"Sophia Gardens will still be the name of the generic area that the ground is in.

"I don't think that there's a huge tradition here. We moved here in 1967, prior to that we were on the ground which is now occupied by Cardiff Rugby Club."

Russell says he has been in preliminary talks with several major companies.

But any deal will have to wait for final planning permission for the ground's redevelopment and for the club to secure the necessary loans from the Welsh Assembly Government and Cardiff Council.