Glentoran are set to become the first Irish League club to sell the naming rights for their stadium.

The Oval has been home to the east Belfast club since 1892 but the famous venue will soon have a new name.

The cash-strapped Glens, who admitted having cash-flow problems in July, are inviting "brand interest" in the naming rights for the stadium.

"Any opportunities to develop our financial needs have to be exploited," said club director Stafford Reynolds.

Arsenal's Emirates Stadium and the new Aviva Stadium in Dublin are among other sporting arenas to have a brand name.

Airtricity League club Drogheda United now play at Honky Dorys Park, which was formerly United Park.

It needs to be examined to see where it might lead us in terms of new cash flows. Glentoran director Stafford Reynolds

Five Glentoran players were placed on the transfer list and three released by the club in May in a bid to trim the wage bill.

The club's sales pitch describes the Oval as "the scene of many great achievements on the pitch and its welcoming gateway has been at the heart of the city's changing landscape since the late 1800s.

"Situated against the backdrop of George Best City Airport, Bombardier, Harland and Wolff, Titanic Quarter and a landmark on the busy Sydenham bypass, the Oval is a focal point for thousands of people each weekend.

"It is one of the first sights of Belfast for around 2.5 million passengers flying into the city every year."

Reynolds believes selling the naming rights is a forward move for the club.

He added: "It needs to be examined to see where it might lead us in terms of new cash flows.

"I think it is a progressive step - if you look at the bigger picture you have got to look at developing opportunities as they arise."

The Glens official also said that he expects the Oval will be part of a new name.

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