The deal will last until the end of the 2022-2023 season.

London-headquartered banking group Standard Chartered has signed an extended deal with Premier League football club Liverpool to be its main shirt sponsor, highlighting the continued involvement of banks with sports sponsorship.

The renewal of the deal will see the club’s relationship with the bank extend to the end of the 2022-23 season. The partnership began in 2010, making it the second-longest sponsorship deal in the "Reds" history, the club said in a statement.

According to media reports, the deal between Liverpool and Standard Chartered is worth around £160 million ($213.2 million) for the Premier League side.

“Liverpool FC is one of the world’s best-known football clubs and we are proud to be associated with them,” said Bill Winters, group chief executive at Standard Chartered. “It is a fantastic club that shares many of our values and is hugely popular across our global footprint. Our partnership has provided valuable support to the charitable initiatives close to our hearts and has helped us to further engage with our clients and staff as well as with LFC fans. We are excited to be able to continue this partnership, and look forward to building on our successful relationship.”

There has always been a strong association between financial institutions and sports, but it seems that the number of partnerships over the last two years has grown significantly.

In September, ABN AMRO agreed a deal with Dutch football club Ajax, and in the same month, this publication reported that English Premier League side West Ham United had partnered with Forex trading service Hantec Markets. And in January, Citi Private Bank agreed to sponsor Formula 1 legend Fernando Alonso for his debut appearance in the Rolex 24 at Daytona, Florida.