The new five-year naming rights sponsorship deal, to start on January 1, will end Aurora Energy's 12-year partnership with the stadium. 

The stadium, previously known as York Park, will sit beside the new site of the university campus when it is relocated to Inveresk. 

Launceston mayor Albert van Zetten said the new commercial partnership ticked all the boxes. 

The financial details of the agreement were not revealed under commercial in confidence.

"Aurora Energy's sponsorship helped put this stadium on the map, and the council is very pleased with the relationship Aurora has had with both the stadium and the City of Launceston over many years," Alderman van Zetten said. 

"A world-class facility like York Park, which is commonly regarded as having the best playing surface of any AFL venue in the country, delivers fantastic benefits to Northern Tasmania, but it is also expensive to operate and maintain.

“The university is eager to show its commitment to Northern Tasmanians and prospective students by investing in the community it seeks to serve."

UTAS provost professor Mike Calford said the stadium would transform Launceston into a university city. 

“It will be a clear signal to Tasmania and the rest of the country that education will sit right at the heart of our communities and future economy,” he said. 

“University of Tasmania Stadium will significantly lift our national profile, and our profile with younger people both here and interstate. We will be talking directly with the young fans of various codes from their primary school years onward.” 

Aurora Energy has been partnered with the stadium since 2004 and chief executive Rebecca Kardos said it had provided the organisation with the opportunity to share AFL game day experiences with the community.

“It has been an absolute privilege to be able to host a range of Tasmanian not-for-profit organisations in the Aurora Function Centre on AFL game days,” she said. 

“Our commitment to supporting local, not-for-profit organisations who make a practical difference throughout the community is stronger than it has ever been.”