Manchester United have announced that they have extended their sponsorship deal with beer company Singha.

The alcohol brand, who previously signed a deal with United's Premier League rivals Chelsea in 2010, have extended their three-year contract at Old Trafford until 2016.

United commercial director Richard Arnold told the club's official website: "Singha celebrates its 80th anniversary in 2013 and what better way to commemorate this than to renew our successful relationship.

"Manchester United is delighted to be keeping Singha within its family of sponsors and looking forward to building on the fantastic achievements the partnership has created so far. I am confident the next three years will be just as positive."

Meanwhile, the North-West club have become the first sports team to be valued at over £2bn by Forbes magazine.