London & Partners (L&P) intends to apply (acting through a newly incorporated subsidiary, Dot London Domains Limited ("DLDL")) to the Internet Corporation for Assigned Names and Numbers (ICANN) for a 10 year licence to operate the new top level domain (TLD) for London (.london). L&P (through DLDL) will manage .london, with the assistance of a third party Internet Registry Services Provider (“RSP”). L&P’s operation and management of .london will not require additional financial investment from the GLA, over and above the core grant funding provided to L&P. Over time .london should prove to be a lucrative revenue stream that will enable the GLA to decrease its core funding contribution to L&P. A legal agreement will be put place between the GLA and L&P to ensure that .london is exploited and managed in the interests of London and Londoners. As well as satisfying technical, policy and financial criteria, ICANN requires that applications for geographic TLDs be accompanied by a letter of support from the relevant public authority – in London’s case, the GLA – and a letter of non objection from the relevant government authority (DCMS). The application window for new TLDs closes on 12 April 2012.