Chelsea signs tire company Yokohama as new jersey sponsor in deal that could be worth $300M

MarketsAssociated Press

Chelsea has signed Japanese tire manufacturer Yokohama as its new jersey sponsor in a deal that could be worth more than $300 million for the English Premier League leader.

The Yokohama Rubber Company's branding will appear on Chelsea's kit from the start of the 2015-16 season, replacing South Korean electronics firm Samsung.

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Chelsea says the five-year agreement is the club's largest ever commercial deal, and it is reported to be worth 40 million pounds ($61 million) each season.

Chelsea chairman Bruce Buck says "we believe that Yokohama will play a key role in helping us drive our global expansion in international markets such as the U.S."

The deal is eclipsed by Chevrolet's $559 million, seven-year sponsorship of Manchester United.