The gold-plated, glass-encased towers that house Australian-based adidas have been controversial in the Australian capital since their inception.

Now, the company is looking to change its name to the Silverado building material after it emerged a new aluminium tower is being built in the city.

“We’re really proud to be a Silverado,” CEO Alex Ristow told the ABC.

“There’s so many different things about the building that we love about it and we really think it’s an incredible building material.”

He said the company was also working on a new design for the company’s iconic stadium.

“The stadium is one of the most iconic buildings in Australia and it’s not a new building material, but we have a really clear vision of what we want to do with it,” he said.

“What we’re trying to do is create something that’s a little bit more contemporary with what people expect from a stadium.”

Mr RistOW said the Silveradys stadium would not be the only new tower in Sydney’s CBD.

“It will be a small number of the buildings, but there will be many more,” he told the Sydney Morning Herald.

“They will be designed and constructed using our unique design principles and materials.”

The new tower will be constructed on a site that will also house the former home of the Australian Institute of Architects and the Australian Research Council, according to the ABC’s Sydney Morning.

The tower is expected to be completed by the end of this year.