Beer Swapped For Bank
Changes a foot for Liverpool
LIVERPOOL, ENGLAND - SEPTEMBER 12: Yossi Benayoun (R) heads at goal past Andre Bikey (L) of Burnley during the Barclays Premier League match between Liverpool and Burnley at Anfield on September 12, 2009 in Liverpool, England. (Photo by Ryan Pierse/Getty Images)
Updated at 3:01 PM CST on Monday, Sep 14, 2009
Standard Chartered Bank will replace the Danish beer Carlsberg as Liverpool's primary sponsor next season in a deal worth £80 million ($134 million) over four years.
Carlsberg had sponsored the 18-time English champions since 1991 but had only been paying about £7 million annually for the right to appear on the club's jerseys.
Liverpool managing director Cristian Purslow said Monday the cash injection will speed construction of a new stadium.
Since buying Liverpool in 2007, American owners Tom Hicks and George Gillett Jr. had been surprised by the club's inability to exploit its global status through commercial deals.
Hicks is a Dallas businessman who also owns baseball's Texas Rangers franchise, which is for sale, and hockey's Dallas Stars.
Standard Chartered had been trying to sponsor Manchester United before the Premier League champions completed a deal in June for next season with Chicago-based insurance broker Aon Corp.
Copyright Associated Press / NBC 5 Dallas-Fort Worth