The Enquirer understands that Westfield has held discussions with the club about sponsoring the stadium when West Ham move in after the 2012 Games.

Naming rights could be worth around £20m and would contribute to the £100m cost of converting the Olympic stadium into a football ground.

The rest of the cash will be raised via a £40m loan from Newham council and the sale of the club’s current Upton Park home which could bring in up to £40m.

Westfield has already joined forces with the club as professional advisor for the planning, design and construction elements of its successful Olympic bid.

The ground would be known as the Westfield Stadium.

Westfield has built a £1.5bn shopping complex in Stratford and the stadium sponsorship would be a natural extension of its presence in the East End.

But the deal is dependent on West Ham getting promotion back to the Premier League following their relegation this season.

One source said: “There have been fairly detailed talks between both sides but it all hinges on West Ham getting promoted.

“The sponsorship value drops through the floor if they are still in the Championship so Westfield will wait to see what happens next season before confirming anything.”

The extra sponsorship cash could increase the chances of retractable seating being installed at the stadium.