London, Mar 1 : English county cricket team Lancashire will rename their headquarters as Emirates Old Trafford, under a record-breaking sponsorship deal worth close to 10 million pounds with a Dubai-based airline company.

The 10-year deal with Emirates Airlines, reportedly the biggest in county cricket, will attach a sponsor's name to Old Trafford for the first time in the 156-year-old history of the ground, which will host two of this summer's Ashes games, the Telegraph reports.

Lancashire's new chief executive Daniel Gidney said the team is gratified to have attracted a company with the stature of Emirates, adding that the county team will now have a place in the sponsorship portfolio of the airlines along with big names like Formula One, AC Milan and Arsenal.

Gidney further stated that the deal will signify that Lancashire is a serious cricket club and business venue, which will give the team a jump-start to move forward in the cricketing world.

The Emirates deal should also bring a period of financial stability to the club after three years of legal wrangling over the 32 million pound-redevelopment of Old Trafford which included turning the square 90 degrees to avoid problems with the setting sun, the report added. (ANI)