Fonterra is buying the naming rights for Shed 10 on Auckland's Queens Wharf - and will use its Anchor brand, the Herald understands.
Writing in the Herald yesterday, Auckland Mayor Len Brown said a major commercial sponsorship would be announced in the next fortnight as an alternative funding source to rates and growing debt.
Lower rates and reining in soaring debt are part of a six-pronged strategy that Mr Brown will hope turns attention away from his sex scandal and censure by councillors.
Fonterra could use sponsorship of Shed 10, refurbished into a cruise ship terminal/events space, to improve its reputation at home and abroad following last year's botulism scare.
Mr Brown's head of communications, Dan Lambert, said the commercial sponsorship referred to was confidential until announced. Fonterra did not respond on the issue.