Murrayfield Stadium is soon to be renamed as the Scottish Rugby Union seeks to maximise its earning power by attracting new sponsors.

Mark Dodson, the organisation's chief executive, admitted the move will be controversial in the eyes of some but indicated that upsetting traditionalists would be a price worth paying in dealing with the SRU's remaining £13m debt while investing in the sport's future.

"I think there will always be people who react against that, there will always be people who find that a step too far, but what we have to realise is that the main piece of inventory in all of Scottish rugby is our national stadium and it will drive the biggest price," he said. "If we want that to be achieved, we can put all that money into grassroots and save a lot of problems at that level.

"We had it valued and it's million of pounds per year. We're looking at all options, the whole stadium and separate stands and there is interest in that."

He said that the opportunity would not be based on the prospect of regular league and cup rugby taking place in the national stadium because he remains hopeful that Edinburgh Rugby will soon be rehoused.

"If we can get Edinburgh a new home, a 10,000 to 15,000 seater would be ideal and we're working on that," he said. "We're making progress but Edinburgh's a difficult place to build a new stadium, so we have to patient. We're clear in our objectives and have a realistic view of what it will take to do that. It depends on land and developers but I would hope to have something within a couple of years' time."

With or without a resident club, he will have to hope that the market-place reacts better to the chance to put its name on Murrayfield than it has so far to the re-evaluation of another significant sponsorship vehicle since Glasgow Warriors remains without a shirt sponsor this season.

However, Dodson claimed that was down it having been sold too cheaply in the past.

"We've set a price for that shirt which we're endeavouring to get," he said. "We could take much less for it or a sum for it tomorrow but it wouldn't be what it is worth. When you've undersold your assets people in Scotland expect them to be valued at that price. When you get independent valuations and you see how much an asset is worth it's bound to be that people say it wasn't worth that a couple of years ago.

"It's up to us to make sure that people understand the asset is worth that price and give some value to it. The old way of accepting sponsors at lower prices, I didn't see that being massively successful. Small acorns don't turn into oak trees as far as sponsorship is concerned.

"We make a purposeful statement by putting Glasgow out without a main shirt sponsor, it would be easy to put a charity on there. We're going out and saying this space is for someone who wants to put a proper value on it and we're talking to lots of people about that.

"In many ways all the shirt inventories including the national team have been sold at very competitive prices and our view is to raise the value of those spots on the shirts, we have to ask for the right price and deliver the relationship that matches that value. I think that's something that hasn't been done in the past."