Dean Court will be renamed Seward Stadium from July after Bournemouth signed a three-year naming rights deal with Seward Motor Group.
The deal runs until the end of the 2013/14 season and will generate a six-figure sum for the club.
"It's significant not just for the money but for the community," chairman Eddie Mitchell told BBC Radio Solent.
"It's taken a long time to stabilise the club but people are now anxious to join in and that's what it's about."
The deal comes after three years of financial struggles for Bournemouth, which saw the club narrowly avoid administration during the 2007/08 season.
The Cherries were then given a 17-point deduction for the 2008/09 season for breaching the Football League insolvency rules, before being threatened by a winding-up order, which was eventually settled out of court in March 2009.
Mitchell believes the Cherries will attract more sponsorship deals in the future now they are secure financially.
"It will encourage other people to join in and this shows we mean business and [Seward Motor Group owner] John Saunders has put his faith in us to make things work and we'll do our damndest to do that," he said.
"We've managed to stabilise the club and reassure people that the club is here for a long time and we're looking after it properly, and it's fantastic to see people joining in."