Big new theatre to open without sponsor

The new Grand Canal Theatre in Dublin will open before naming rights have been sold on it. Although early negotiations are taking place with two big names, they are not expected to be complete by the opening date for the theatre of March 18. Richard Tierney of the sports and entertainment company Ten, which is handling the negotiations, says it would be ideal to launch with a partner. However, he said he wasn't interested in a fire sale - he wouldn't sell for less than it was worth. Mr Tierney said the naming process had been under way for around nine months. He said the sponsorship market had revived in recent weeks, with a lot more inquiries than over the past year.