Subiaco Oval has been officially renamed Patersons Stadium but Subiaco Council have vowed to fight the change, describing it as an "offensive" and "short-sighted" move.

And although the internal signs at the venue can now be changed from Subiaco Oval to Patersons Stadium, the West Australian Football Commission still face a fight in getting approval for new signs around the Subiaco area.

It is believed stockbroking firm Patersons Securities have paid in the vicinity of $3.5 million over four years for the naming rights.

But City of Subiaco deputy mayor Paul Clements said the council would explore their legal options to block the move.

"We're not happy at all," Clements said.

"There's a lot of heritage at that site and I think it's very short-sighted of them to change the name of the oval.

"We find it offensive because they lease the property for no cost and so to desecrate it goes against the grain.

"We have had a lot of people telling us loud and clear to fight it and we will."

In 2003, the Subiaco Council blocked a multi-million dollar move for Subiaco Oval to be renamed Crazy John's Stadium.

WAFC chief executive Wayne Bradshaw said the naming-rights sponsorship was inevitable and would help grow grass roots football in WA.

"We think it's inevitable that stadia will need to go down the naming rights path," Bradshaw said.

"From our perspective we are trying to develop community benefits, and to do that we need some funds.

"... We now need to apply more funds to continue to have our kids actively engaged in sport.

"So naming rights is a property that's associated with a stadium and we've been looking for a number of years to achieve a naming rights sponsor."

Bradshaw hoped the naming-rights deal with Patersons would extend beyond the current term.

That will depend on the future of the venue, which could either be redeveloped or rebuilt in stages over the coming years.

The WA Government is also considering demolishing the venue and building a new stadium at a different site.

"Our aim out of this sponsorship is to have an enduring partnership with Patersons so that it can be entrenched as Patersons Stadium," Bradshaw said.

"One of the considerations we had in determining the term is a realisation that there may be a stadium change in the coming future."

Bradshaw believed the WA public would embrace the name change in time.

"We can't force the public to refer to the name Patersons, however, over time we believe the name will be entrenched and we'll achieve the outcomes we are seeking," he said.

"Look, it will be officially known as Patersons Stadium, so from the AFL and all the publications and all the promotions that are undertaken it's Patersons Stadium from today onwards."

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