ACCRINGTON Stanley have signed a shirt sponsorship deal with Oswaldtwistle Mills, following the premature ending of a three-year £45,000 deal between the club and Hyndburn Council.

Starting next season for two years, the Reds' shirts will feature the mill retailer's logo. And both sides have an option to extend the deal further. The sum involved is secret but said to be much higher than the Hyndburn Council agreement.

Stanley held talks for over a possible deal with a brewer and a leisure firm, before opting for Oswaldtwistle Mills. Rumours have circulated about a deal for two weeks, but both sides remained quiet until this morning. Hopes are now high that the deal will stabilise future sponsorship for Stanley, as it attempts to get back into the Football League which it helped found in 1888.

At an event to launch news of the deal, Stanley footballers' wives and girlfriends posed in the new shirts, alongside mill retail director Boyd Hargreaves, Stanley chairman Eric Whalley and player Paul Mullin, the club's top goal-scorer.

Mr Hargreaves said: "Oswaldtwistle Mills has had a long-standing relationship with Stanley. We already provide income for it through having a concessions stall selling club merchandise, shirts, scarves and hats. We have now increased our investment and believe the potential for sales is much higher.

"We really want to be in this for the long-term, not in and out in two years. It can raise the brands of both club and retailer, which should help us both."

Stanley chairman Eric Whalley said: "I am delighted to welcome Oswaldtwistle Mills. There is a great relationship between the two businesses. Both are well-known Lancashire attractions with strong family-appeal. It's an exciting time." He declined to state what the new deal was worth, apart from saying: "It's well into five-figures. It's a lot of money."

The cash would be used to pay wages of players, who become full-time professionals next season, plus the wages of admin and lottery staff. "A lot of people are giving up good jobs to become full time players," said Mr Whalley.

Asked what salaries players might earn, he said: "I haven't a clue. But I've had a meeting with our accountant and he's very optimistic that we are doing the right thing."

Other sponsorship deals may be struck with other firms, he said. "Hopefully, this is the first of many deals with local firms . We hope to progress other schemes and are looking for other sponsorship."

Two weeks ago, Stanley's £45,000 three-year deal with Hyndburn Council ended after less than a year. The council is trying to recoup its £1.8m defect and cutting costs across-the-board. But it will continue supporting soccer schools and two home games per season, for around £1,000 per year.

Tory council leader Coun Peter Britcliffe welcomed the new deal, saying: "I'm delighted a local firm is sponsoring Stanley. This continue raising the district's profile and attracting visitors here."