The news follows the appointment from Ron Gourlay as CEO on Monday, who replaces Peter Kenyon.
The club hopes to raise £10m a year from the deal over a 10 to 15 year period.
Earlier this week, Newcastle United renamed their stadium Sportsdirect.com @ St James' Park. The deal will run until the end of the season, when the club hopes to secure a new sponsor.
Everton FC also plans to bring on a naming rights partner, either for Goodison Park - its home since 1892 - or a new ground. It hired AEG to handle the sponsorship search.
Earlier in the year it was reported that Liverpool would also take on a naming rights partner if the club moves into a new stadium. Shirt sponsor Carlsberg, which is being replaced at the end of the season by Standard Chartered Bank, was rumoured to be in the frame but denied the reports.
Tottenham Hotspur will also sell the naming rights to its proposed 60,000 seater stadium.
Three Barclays Premier League clubs have stadium naming rights partners: Arsenal (Emirates), Bolton Wanderers (Reebok) and Wigan (JJB).
