Major national and international brands have been invited to step forward with their plans for naming rights at Brisbane's iconic Gabba Stadium.
Minister for Housing and Public Works Mick de Brenni said naming rights sponsorship for the Gabba was a recommendation of the independent Stadiums Queensland Taskforce Report prepared last year by respected Australian sports administrator John Lee.
"After 123 years, we are unlocking the opportunity to restore the Gabba to its former glory," he said.
"Giving this process the green light is the next leap forward to modernising our major sports facilities and the authority that runs them."
Deputy Premier and Member for South Brisbane Jackie Trad said the Gabba's naming rights are an historic opportunity for the successful sponsor to reach new customers, improve brand recognition and help improve one of Queensland's most-beloved sporting venues.
"The Gabba, a much-loved landmark not just for my community but for the entire state, is beamed to almost 36 million people worldwide every year," Ms Trad said.
"Naming rights come with a host of promotional and marketing opportunities including venue signage and branding, corporate hospitality and direct access to one of Australia's largest and most passionate fan bases.
"Of course, a key condition of any deal will be that the iconic name "Gabba" be retained."
The Gabba is the home ground of the Brisbane Lions AFL team and is also renowned as one of the best cricket wickets in the world.
Both the Brisbane Heat and Queensland Bulls cricket clubs call the Gabba home, and it also serves as an impenetrable fortress for the Australian Test team.
Mr de Brenni noted that many of the world's most famous sporting and entertainment centres have a naming rights deal in place, including the Mercedes Benz Stadium in Atlanta, London's Emirates Stadium and Kia Oval, Munich's Allianz Arena, Perth's Optus Stadium and Brisbane's own Suncorp Stadium.
"There is no argument that inside the boundary fence, the Gabba is the best ground in the world, which makes it surprising to the rest of the world that we have not yet locked down a corporate partnership for naming rights," he said.
"It's important to note that this entire process for naming rights is one of collaboration between the stadium authority and its major hirers, AFL and cricket."
Mr de Brenni said the Gabba was a key element of Palaszczuk Government plans to develop a world-class residential, commercial and entertainment precinct in South Brisbane.
"Outside the stadium we are well on the way to delivering the $5.4 billion Cross River Rail project that will facilitate a vibrant Gabba precinct with easy stadium access for sports fans and concert-goers.
"This is a key piece of Queensland infrastructure that's simply been ignored by the Morrison-led cabal in Canberra.
"Labor's Bill Shorten recognises the importance of Cross River Rail – not just to the Gabba but to South East Queensland – and that's why he's committed $2.24 billion to ensure Queensland will not have to go it alone on this project."
Mr de Brenni said the Gabba continues to attract solid crowds, with 566,896 people making their way through the gates last financial year.
"That's great exposure for any prospective sponsor," he said.
"During that period, Queenslanders loved hosting the Ashes Test, Big Bash and the Lions AFL seasons, and more recently we've hosted a Taylor Swift concert, T20 International cricket and a Day/Night Test, so the content and audience is quite varied and the geographic reach is significant.
"Sports fans are really excited about bringing a naming rights sponsor on-board to help deliver continuing investment in the upkeep and enhancement of the venue."
