Andrew Barr says the ACT government will lower the asking price for sponsorship of a new stadium.

Andrew Barr says the ACT government will lower the asking price for sponsorship of a new stadium. Photo: Jay Cronan

The ACT government is refusing to end its two-year search for a Canberra Stadium naming-rights sponsor and hopes it can secure a corporate partner by the start of next year.

But ACT Sports Minister Andrew Barr concedes the asking price will have to be lowered after starting the chase for a sponsor in early 2011.

The government put the naming rights up for grabs in 2011 with a price tag of between $500,000 and $700,000.

Mr Barr said it was unlikely a deal could be struck before the NRL and Super Rugby seasons end.

''There are ongoing discussions with interested parties,'' he said.

''I would anticipate there will be an outcome sooner rather than later, but the exact terms and what we can expect has changed since the global financial crisis.''

Canberra Stadium will continue to get ongoing refurbishments before a new ground is built in Civic. Chris Dutton