Chelsea have agreed a new £50m sleeve sponsorship deal with car manufacturer Hyundai for next season, according to reports.
The five-year agreement, which will see the South Korean automotive producer replace Alliance Tyres; a subsidiary of the club’s shirt sponsors Yokohama Tyres, who have two years remaining on their five-year deal worth £200 million, is the most lucrative of its kind in the Premier League.
According to The Times, the new artwork is worth double the annual amount of Manchester City’s sleeve sponsorship with Nexen Tire and will set the benchmark for such deals going forward, with Manchester United and Arsenal both in the process of becoming the latest sides to take up the money-making opportunity.
The agreement is also the first major sponsorship deal by Chelsea's commercial director Chris Townsend, who was brought to the club from Broadband Delivery UK last year.
As part of the agreement, Hyundai will see their logo situated on the sleeve of the Blues' new home shirt next season - which was officially released yesterday following leaks earlier in the month.
The Nike-sponsored famous solid blue top has been accompanied by some smart tweaks, with the white and red flashes the most noticeable aspects.
"The new kit takes inspiration from the famous and much-loved jerseys of the 1980s and 90s," the club website read. "Flashes of colour light up the shirt, with dazzling horizontal red and white lines vibrantly standing out against the famous Chelsea blue.
"The jersey is complemented by the traditional blue shorts and white socks, brightened by a horizontal red and blue trim at the knee."