As Liverpool FC and Standard Chartered Bank confirmed an extension to their main sponsor agreement today, chief executive officer Ian Ayre explained why the partnership is proving so effective and important for both parties and beyond.

What are the benefits to Liverpool Football Club with a shirt sponsor like Standard Chartered Bank?

Since we signed the first deal some years back, we have always felt that there was great synergy between the two organisations - particularly the reach of Standard Chartered Bank around Asia, Africa and the Middle East, and the great global support we have as a football club in those regions. Being hand in hand in those markets, marketing together and touring across the world together has been a fantastic asset for both organisations. We're very pleased to continue that.

Only five brands have adorned the shirt in the 40 years since Liverpool created the sponsorship opportunity. What does that say about the club's relationship with its shirt sponsors across the years?

It's something that we've been very keen to maintain over many years, which is ensuring that we have a very strong relationship - what many people would describe as a win-win. We feel that our partners and sponsors should get at least as much out of this as we do. That has been fantastic with all the partners we have, not just on the shirt but throughout the club. I think it's a great testament to the team at Liverpool and the teams that work for our sponsors who make all of this happen and make it work for both sides. Having only had five on the shirt is testament to that and the fact that people want to stay and be a part of Liverpool Football Club's family.

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What elements of the LFC and Standard Chartered sponsorship make for a successful relationship away from the football field?

There are many and it's important for it not to just be about the commercial relationship. We're hugely supportive of the 'Seeing is Believing' initiative that Standard Chartered are heavily involved in, World AIDS Day and other initiatives. When we go on tour around the world, we do that together. It's about ensuring that people see beyond the sponsorship and see the relationship, and see both parties giving something back.