The new stadium in Western Sydney has been named.

Perth-based national bank, Bankwest, have secured the sought-after rights for the next seven years.

The deal was announced by Minister for Sport Stuart Ayres.

“It’s an exciting day here in western Sydney,” Mr Ayres said at the announcement.

“It’s a fantastic partnership … and fantastic we take this next step by naming this stadium Bankwest Stadium.”

The stadium is costing $360 million to build and is 80 per cent complete.

It will seat 30,000 people and be the home of the Parramatta Eels in the NRL and the Western Sydney Wanderers in the A-League.