Albion announced today they are ending their deal with main club sponsor Intuit QuickBooks after just one season.

And just moments later the computer company announced a two-year agreement with the Baggies' West Midlands rivals Villa.

However, the Baggies are understood to be closing in on a deal with a new sponsor worth more than £2million annually – a new record for the club.

The Intuit deal, which was signed last summer, included an option for a one-year extension.

But the Hawthorns hierarchy have opted against extending the agreement, which was worth around £1.5million-per-season, in favour of seeking a new, more lucrative deal.

And they are hopeful of securing a new sponsor in the next few days.

Adrian Wright, Albion's sales and marketing director, said: "We have enjoyed our partnership and I think both parties believe it to have been a mutually-advantageous venture.

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"Intuit QuickBooks embraced the club warmly and we shall always be grateful for their willing participation in the Astle Day shirt change."

Villa have now announced Intuit QuickBooks as main club partner for the next two seasons.

Charlie Wijeratna, Villa chief commercial officer, said: "We are delighted to welcome QuickBooks as our main club partner.

"We will be proud to have on our shirt next season a major US brand that has ambition to grow in Europe and Asia.

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"I know the team here at Villa will be working hard to combine the marketing capability of QuickBooks with the Aston Villa brand and the reach of the Premier League.

"We hope and expect it to be the start of a great partnership that will enhance both brands significantly."

Rich Preece, vice president and country manager of Intuit UK, said: "We're absolutely delighted to become the main club partner of Aston Villa, one of the best known teams around the world.

"As well as possessing an enviable history, Aston Villa has major growth ambitions which mirror our own.

"We've been incredibly impressed by the set-up here and see the Club as a perfect partner to grow the QuickBooks brand in the UK."

Villa's new home and away kit will be unveiled early in July.