Scarborough Athletic have been handed a windfall from the sponsorship of their Scarborough Sports Village base.
Flamingo Land became the stadium's new sponsor after a six-figure sum and a five-year contract were accepted by the Scarborough Borough Council.
Boro have confirmed that the money raised will go towards ground improvements, should they be required in the future.
Chairman Trevor Bull said: "So now we have a name for our new ground. The Flamingo Land Stadium will soon be known around the football world as the home of Scarborough Athletic FC.
"While this is a deal between Gordon Gibb and Scarborough Borough Council, this is also a great deal for our club as the money raised is to be spent on improving the stadium.
"I met Gordon at the ground last week when the council officials told me the arrangement was agreed.
"We were able to talk at length about my hopes for the club and the improvements to the ground that I believed were needed as soon as possible.
"He was very keen to understand what help we needed. With his recent links with Premier League football teams and his many contacts in the business world, I'm sure we can explore ways of working together.
"One of my concerns for us has been the affordability of the required capacity increases when we achieve our aim of promotion.
"We've all witnessed what happened to Darlington last season when they were denied a place in the promotion play-offs due to their ground not being of the required standard. This stadium sponsorship deal is certainly going to make that task a lot easier.
"It is also a mark of how far we've come as a club over our 10-year existence that a majorly successful regional business wants to be associated with our brand. I'm looking forward to working with Gordon and his team to the benefit of Scarborough Athletic Football Club.
"Gordon will be joining us on July 15th for our first game back home. Please join me in giving him a big Boro welcome, he really has underpinned our future success."