Owner John Henry and chairman Tom Werner spoke on the manager who in two years led the club back to a position amongst the very best team in the English Premier League:
We are very fortunate to have a hugely talented individual leading our football performance and in whom we place our trust to deliver the vision we share for Liverpool Football Club.
Brendan is at the heart of what we, as an ownership group, are trying to achieve on the pitch. This season has reaffirmed everyone's belief that we can bring football success to Liverpool and we are all committed to working together to achieve that.
Rodgers stated he was "humbled" he would get the opportunity to continue working on the project he started two years ago:
I am both humbled and privileged to be offered the chance to extend my stay at this great club. I am very happy to build on the foundations we have built over the last two years and now we move onto the next phase which I believe will be as exciting, challenging and rewarding.
The Northern Irishman took over as manager for the Reds following a successful spell at Swansea. After a first season filled with ups and downs, the club saw massive improvements on previous campaigns in 2013-14, finishing second in the Premier League standings and qualifying for the UEFA Champions League.
Rodgers worked with a somewhat limited budget compared to other top teams like Chelsea and Manchester City, and his ability to get the most out of youngsters like Daniel Sturridge and Raheem Sterling quickly endeared him to fans.
His presence and constant words of confidence also seem to have had a visible effect on star striker Luis Suarez, who enjoyed his best season yet at the club in 2013-14, winning the European Golden Boot.
The team's late collapse and the tie against Crystal Palace had some fans proclaiming Rodgers perhaps wasn't the right man for the job after all, but those fans represented a small minority amongst the Liverpool faithful.
The message from fans on Twitter was one of universal joy at the news:
Kopthat's Justin Heron also couldn't hide his excitement:
Rodgers will go into the upcoming summer transfer window with the added funds of Champions League qualification, and he'll look at strengthening the squad significantly in order to improve on the successful 2013-14 campaign.
Getting the contract extension out of the way early in the window was crucial for both parties, who will now know there is nothing standing in the way of a fruitful relationship between club and manager in the future.