( CNN ) -- Liverpool have secured the biggest sponsorship deal in the English Premier League club 's history after they announced a four-year deal with Standard Chartered Bank . Liverpool legend Kenny Dalglish and managing director Christian Purslow confirm the new sponsorship deal . The Reds have confirmed that the bank will replace current sponsors Carlsberg at the start of the 2010-11 season , ending a 17-year association with the Reds , for the beer maker . The figure for the sponsorship has not be disclosed but reports in British newspaper The Guardian suggest the deal is worth $ 133 million . Liverpool managing director Christian Purslow spoke of his delight on sealing the sponsorship agreement for the Anfield-based side . `` I am tremendously excited - it 's a hugely important day in the history of Liverpool FC , '' he told the club 's official Web site . `` This is the largest commercial agreement we have ever entered into . To have attracted a partner of the caliber of Standard Chartered Bank says everything about where we are trying to take this football club . `` They operate in a number of markets around the world where we have a long term plan to increase the family of Liverpool fans and this agreement will be very helpful to us in doing that . '' Purslow added : `` Many branches in these countries will effectively be a shop window for Liverpool FC and a means of attracting more supporters to the cause . `` We aspire to be the best at what we do on and off the field . This is the first commercial agreement the club has entered into which can truly be described as the best of its kind in world football . `` I hope this tells everyone , especially our fans , what we are trying to do with this football club in the future . '' The move follows Liverpool 's American owners , George Gillett and Tom Hicks , concluding a deal in July to re-finance a $ 380 million bank loan they took out to buy the club in 2007 . Plans to develop a new 60,000-seater stadium at a cost of $ 580 million were shelved due to the recession in 2008 by the club , despite planning permission being granted by the local city council .
Liverpool signed a new sponsorship deal with Standard Chartered Bank . The means the end of the Reds 17-year partnership with sponsor Bank . Liverpool will use the bank 's name on their shirts at the start of the 2010/11 . The deal is reported to be worth approximately $ 133 million to the club .