The Royal Institute of British Architects (RIBA) and Brockton Capital have announced a major partnership for the RIBA Stirling Prize.

The long-term sponsorship commences in 2014. From 2015, the UK's most prestigious architecture award will be renamed the RIBA Brockton Stirling Prize and a £20,000 prize will be presented to the winner.

David Marks, Co-Managing Partner of Brockton Capital, commented: "The support and promotion of great architecture helps to foster, harness and deliver the intelligent redesign for our cities that is so urgently needed across the UK and elsewhere.

"Last year's RIBA Stirling Prize shortlist that included the Park Hill flats in Sheffield and the houses at Newhall Be in Harlow (see video at foot of page), as well as previous winners such as Lord's Media Centre (1999), The Gherkin (2004) and Evelyn Grace Academy (2011), have helped to address innovative design solutions in the places in which we live, play, work and study.

"Brockton Capital is pleased to be working with RIBA in supporting this work via the RIBA Stirling Prize".

RIBA Chief Executive Harry Rich also expressed great enthusiasm for the new deal: "We are delighted to have Brockton Capital as our partners on the RIBA Stirling Prize. Brockton have a real commitment to architecture and the quality of the built environment and their support marks an exciting new chapter for architecture's most significant prize".

Gavin Henderson of Stanton Williams, winners of the 2012 RIBA Stirling Prize and architect of Brockton Capital's redevelopment of The Mailbox in Birmingham, added: "Brockton Capital's sponsorship of the RIBA Stirling Prize is testament to their status as a client committed to achieving quality in the built environment, an approach exemplified by our current work together on the transformation of Birmingham's Mailbox.

"The announcement is particularly meaningful to Stanton Williams as past winners of the Stirling Prize, recognising the importance of visionary clients who act as patrons for good architecture".

The Architects' Journal is professional media partner for the RIBA Stirling Prize 2014.