The stadium will be renamed "Aussie Stadium" on the back of the deal.
But the chief executive of the Sydney Cricket and Sports Ground Trust, Jamie Barkley, said that the naming rights to the Sydney Cricket Ground would never be sold.
"I think what we have achieved here is a very good balance of naming the venue and receiving very significant funds for that right that will go back into supporting our hirers at the SFS and enhancing the public amenities for the fans," Barkley said.
Barkely also confirmed that the capacity of the stadium could be increased from its current 41,150. "It is one of many options that we are considering at the moment. One of the major objectives of both Aussie and ourselves is to attract more events to the stadium and if that requires extra capacity, then that will be looked at."
