Saracens rugby union team has agreed a new long-term stadium and sponsorship deal with Allianz, the German financial services company, worth a reported £8m.

The agreement will see Allianz become the club's main sponsor, while its new stadium and community sports hub being built in Hendon, London, will be renamed Allianz Park .

Saracens chair Nigel Wray said: "We are now starting to realise our commercial potential. This deal represents a massive step forward for Saracens."

Click here for more information about the long-term agreement between Saracens and Allianz.