Following last months report that Los Angeles is considering selling its naming rights, the makers of Jose Cuervo tequila have thrown their name into the ring. Diageo, the owners of Jose Cuervo, has offered US$1m to place the words "Cuervo Nation" below the Hollywood sign, a report from Reuters said.

As part of the offer, Jose Cuervo would like the Mexican holiday of Cinco de Mayo designated an official city holiday, and Cuervo margaritas named the official drink for anyone aged 21 or over.

The city's authorities announced last month that they were considering opening up tenders for an official drink, to make up a projected budget shortfall of US$250m next year. A City Council committee has already met to discuss the proposal. With over 400 vending machines in LA's parks and public buildings, the committee is looking at ways to get more money from the machines.

Through his spokeswoman, mayor James Hahn declined to comment on Cuervo's offer.