Perth's premier rectangular venue, currently known as nib Stadium, will be renamed HBF Park, following a new sponsorship agreement between the Western Australian health insurer and the State Government.

Venue currently known as nib Stadium will be known as HBF Park from new year

Sponsorship agreement supports high-performance sport, community clubs and State Government facilities

The historic former Perth Oval venue will be known as HBF Park from early in 2019. The venue had been sponsored by nib since 2010.

Home to the Perth Glory and Western Force, the venue hosts high-quality, large attendance sporting, music and entertainment events.

It has recently hosted Paul McCartney and the Foo Fighters, and will welcome the Red Hot Chilli Peppers in March 2019.

The venue underwent a $95 million redevelopment in 2013, which included the construction of the eastern and southern grandstands as well as the installation of new electronic scoreboards.

Since the redevelopment more than 1.1 million people have attended events, including a record crowd for a sporting match of 18,497 at the FIFA World Cup qualifier between the Socceroos and Bangladesh in 2015. An entertainment record crowd of 32,000 saw Ed Sheeran at the venue in the same year.

Revenue generated from the sponsorship agreement will be used to support high-performance sport, community clubs and enhance the State Government's facilities.

Comments attributed to Sport and Recreation Minister Mick Murray:

"I would like to thank HBF for their ongoing support and commitment towards sport and health in Western Australia.

"This agreement will help the State Government support high performance sport, grassroots clubs, and enhance our facilities for the thousands of Western Australians who attend venues each year.

"HBF is a WA-owned company and I welcome their support of State Government venues, for the benefit of community clubs and local sporting organisations."