English soccer giants Chelsea have secured a UK£50 million, five-year sleeve sponsorship deal with Hyundai, according to The Times.
The UK daily reports that the deal with the South Korean car manufacturer is the most lucrative contract of its kind in the Premier League and sees Hyundai replace Alliance Tyres, the subsidiary of the club’s shirt sponsors Yokohama Tyres which signed a one-year deal in July last year.
Chelsea’s contract with Hyundai is apparently worth double the annual amount of Manchester City’s sleeve sponsorship with Nexen Tire and will change the landscape for such deals. Domestic rivals Arsenal and Manchester United are both in the process of negotiating their sleeve partnerships for next season.
The Hyundai deal would be the first major sponsorship arrangement brought in by Chris Townsend, the club’s commercial director who joined last year from Broadband Delivery UK.
Chelsea ended their top-flight league campaign outside of the Uefa Champions League qualification places in fifth. A disappointing final day saw the Blues lose 3-0 at Newcastle whilst top-four rivals and Champions League finalists Liverpool beat Brighton 4-0 to seal fourth.