English rugby chiefs have agreed to sell the naming rights to Twickenham Stadium, the home of the national rugby union side for the last century.

Sky News can reveal that the Rugby Football Union (RFU) has struck a deal with Allianz, the German insurer, to add its brand to one of the world’s most famous rugby venues.

Sources said the RFU and Allianz were planning to rush through an announcement of the partnership after both were contacted by Sky News on Monday afternoon.

The value of the deal was unclear, although sources said it would represent a significant boost to the governing body’s finances.

The plot of land on which the stadium sits was acquired by the RFU in 1907 at the instigation of committee member William Williams.

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The RFU and Allianz have both been contacted for comment.

This breaking news story is being updated and more details will be published shortly.

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