Bangor City have announced a new ’five figure’ sponsorship deal which will see their Nantporth stadium renamed the “EuroGold Stadium”.

The Liverpool based civil engineering contractor have also extended their agreement as Main Shirt Sponsorship until the end of the 1919/20 season.

Eurogold currently carries out general civil engineering groundworks, roads & sewers and other associated works for private developers, main contractors and various other clients and has established itself as one of the premier civil engineering groundworks contractors in the North West region.

The company has enjoyed 12 years of trading and completed the 2015/2016 trading year with a turnover of 34.4 million, with 2016/2017 reaching 40 million.

A spokesperson for Bangor City said: “We are very pleased to have secured the sponsorship of ‘EuroGold’ for another season. As well as being the main shirt sponsor and agreeing to be the new stadium sponsor.

“The EuroGold Stadium and main shirt sponsorship deal is a 5 figure sum.”

Earlier this week Bangor City have announced that Stephen Vaughan Jnr will be taking over as Chairman of the club after leaving his role in Malta as Mosta FC Assistant Coach and he pledged to “help save the club”.

The move follows months of speculation on the club’s future after it announced debts of over £100,000 with bills being unpaid, players not receiving wages and the resignation of the club’s auditors.

A statement from the club, released on Monday, read: “The first step will be to start tackling all the off field issues and the outstanding creditors which includes the players and staff.

“The water bill has been paid and reconnected, HMRC/payroll has been paid up to date and the electricity will be turned back on. This will be back on within 7-14 days.

“Vaughan Jnr will be contacting all of the Clubs debtors which will enable us to clear around 70% of the current creditors list.

“Stephen Vaughan Jnr has spoken to the management team and will be meeting up with the players at training this week.

“The Club will not be applying for the tier 1 Licence this season after all that has happened in recently months. We will look to be ready to apply for our tier 1 licence again this time next season. We have however applied for tier 2 license which we are very confident in achieving.

“Vaughan Sports Management (VSM) will remain the Clubs major creditor and continue to be the person with significant control. The newly announced Chairman has spoken to a representative of Nantporth CIC and we will be looking to meet with them ASAP to discuss the relationship with the football club going forward.

“There will be full transparency on everything that is happening within the Club and all parties can see the direction the Club intends to go in.”