The owners of the London Stadium are in advanced talks with Vodafone for a six-year naming rights deal worth £20million.
The London Legacy Development Corporation (LLDC) is understood to have been in negotiations with the telecoms firm for months and a deal could be signed in time for August's World Athletics Championships.
Premier League side West Ham are the stadium's main tenant but are unlikely to see any financial benefit from this deal, as the LLDC takes the first £4million a year from any naming-rights contract.
That said, the deal will represent an indirect boost for the club after what has been a difficult first season in the centrepiece of the London Olympics, with bouts of crowd trouble, complaints about a lack of atmosphere and indifferent form. Vodafone is also understood to want to showcase its technology by upgrading the stadium's digital connectivity.
An LLDC spokesman would not confirm the specifics of the deal but admitted talks were "active".
The £700million stadium has been dogged by negative headlines about its expense for almost a decade, and last year London mayor Sadiq Khan ordered a review into the spiralling costs of converting it from an athletics arena into a multi-purpose venue with football at its heart.
That review is ongoing and is scheduled to report back this summer, by which time the LLDC may have some good news to report in terms of the 80,000-seat venue's financial sustainability.