Celtic & Rangers sign sponsorship deal with Tennent's
The deal replaces the contract with Carling which ends this summer
Scottish brewing firm Tennent's has announced a three-year sponsorship deal with Celtic and Rangers.
The contract, believed to be worth up to £1.5m a year to each club, will see Tennent's displayed on the jerseys.
The deal replaces a similar one the Scottish Premier League clubs had with Carling which expires this summer.
Celtic chief executive Peter Lawwell and counterpart Martin Bain said the sponsorship would generate "important revenue" for both clubs.
Tennent's is also in talks on whether to continue sponsorship of the Scottish national team.
The brewing firm's managing director, Mike Lees, said he hoped the deal with the Old Firm would help the game in Scotland.
"Football is a national obsession in Scotland and we believe this partnership with Scotland's biggest and most successful football clubs takes our long-held strategy of sponsorship and investment in the game to the next level," he said.
We are pleased Tennent's have chosen to take their sponsorship to a new level by investing in the Old Firm
Rangers chief executive Martin Bain
"We are very much looking forward to working with the clubs and their fans, and to an exceptional year for the brand in 2010."
Lawwell said the deal had been struck during "challenging times" for Scottish football.
"Celtic Football Club is delighted to enter into this new partnership with Tennent's, a brand which has become synonymous with football," said the Celtic chief executive.
"This sponsorship provides important revenue for Celtic over the next three years, which will contribute to our continued investment in the football squad.
"We are sure this partnership with Tennent's will be most beneficial."
The Rangers chief executive added: "The Tennent's brand has been synonymous with Scottish football for decades and we are pleased they have chosen to take their sponsorship to a new level by investing in the Old Firm."
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