Richmond will step up the hunt for major backers after locking in a naming-rights sponsor for their redeveloped Punt Road headquarters.

The Tigers' new training and administration base will be known as the ME Bank Centre - although the Punt Road name for the ground will be retained - after they signed with the challenger bank, owned by leading industry super funds to a five-year deal.

Richmond says the ME Bank Centre will bring Richmond in line with the league's more hi-tech clubs with a state-of-the-art gymnasium, indoor sports centre and leading medical and rehabilitation amenities.

Richmond CEO Brendon Gale said the club had been in talks with ME Bank for six months before sealing the sponsorship.

Gale said clubs were now engaged "in a bit of an arms race in facilities" as rivals try to provide their players with the best equipment available.

"It's about attracting talent and good staff as well so to provide them with good, cutting edge facilities is really important.

"It's pleasing to see all clubs benefit from big capital improvement programs over the last few years.

"I think the Punt Road Oval name description is such an important part of the brand or the DNA of our football club so it's pleasing to see that will be preserved," he said.

The Tigers' naming-rights deals with their two major sponsors, Dick Smith and Luxbet, have ended, although both will retain a financial association with the club.

With the team showing significant improvement towards the end of the 2010 season under new coach Damien Hardwick, Richmond are confident of securing lucrative naming-rights sponsorships with other companies.

The ME Bank Centre will provide multi-purpose facilities to be utilised by community groups and members.

It will also house the Australian Institute for Indigenous Learning and Skills Development, the Korin Gamadji Institute.

Gale said it was possible the club could also attract backing from the Victorian government for the centre.

"The government sees football as a way of reaching out to communities and driving their objectives.

"If governments look to football clubs to help bridge the gap between indigenous and non-indigenous Australia I think that's good."

Richmond's $20 million redevelopment is in the final stages of construction, with an official opening scheduled for early 2011.

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