Phil Wallace has been chairman at Stevenage for 10 years
Stevenage Borough have announced a new sponsorship deal that will see the name of their Broadhall Way stadium changed.
Hertfordshire-based frozen food company, Lamex, is to pay a six-figure sum to change the name to The Lamex Stadium.
Stevenage chairman Phil Wallace told the club website: "This is a good deal for both parties.
"The club will benefit from a significant cash injection which in these difficult times is welcome."
Wallace, who is a major shareholder in the company, added: "It comes at a time when we've reinvented our desire to go deep into the heart of the local community."
"I've personally seen a solid show of support from the local council on a renewal of the club's lease. The club will now benefit from a significant injection of cash which, in these difficult times, is especially welcome.
"Although the club is a personal passion for me, this is a commercial transaction that has genuine advantages for both parties.
"I'm delighted that my fellow shareholders agreed to the deal and I will be proud to see the Lamex name associated with Stevenage Borough FC from now on."
Stevenage currently lie in the play-off positions in the Blue Square Premier.
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