Power president David Koch, coach Ken Hinkley and captain Travis Boak - all new club leaders - were at the announcement of the three-year deal with French car giant Renault on Tuesday.
It is a major boost for Port, which has struggled on and off the field for the last few years.
The unusual step of making the announcement outside of Adelaide underscores the club's need to build a bigger supporter and sponsorship base.
Koch said it was vital that the club, which was born out of its highly-successful namesake in the local SANFL, broaden its horizons.
"We have to get out of 5105 as a postcode," Koch said of their traditional Alberton home.
"We are a national brand, we're playing in a national competition on the field and we're playing in a national competition off the field as well.
"This represents where we're heading."
The Power have set up business groups in Melbourne and Sydney in a bid to attract more corporate support.
A key reason for Koch becoming president last October is the media personality's high profile in the Australian business community.
Port finished 14th last season, where they sacked Matthew Primus as coach.
They also had to deal with the death of player John McCarthy in Las Vegas during an end-of-season trip.
"Don't underestimate how important today is, not only for us as a board, but for the players and the membership of the club as well," Koch said.
"It's a tonic of saying 'hey, people believe in us'.
"That belief and that passion has been under a bit of pressure over the last couple of years."
A potent symbol of Port's financial woes has been the covers over whole sections of seating at AAMI Stadium for their home games.
Those advertising signs, which have highlighted the club's poor home crowds, are being phased out.
"I think you'll see most of those gone in this coming season," Koch said.