Japanese tire firm Yokohama Rubber "is to become Chelsea’s new shirt sponsor" in a deal believed to be worth £200M ($308M), making it the second most lucrative in Premier League history, according to Owen Gibson of the London GUARDIAN. The agreement, effective from next season, is second only to the £53M ($82M) a year that Chevrolet pays ManU and "is more than double the club’s previous contract with Samsung." Neither Chelsea nor Yokohama Rubber "would confirm the figures involved" but the five-year agreement is believed to be worth around £40M ($62M) per year. The deal "will lead to Chelsea leapfrogging" Liverpool, Arsenal and Man City in terms of shirt sponsorship revenues and "will be seen as a coup for Christian Purslow, the former Liverpool managing director who was appointed last year to seek new commercial contracts abroad" (GUARDIAN, 2/26). In London, Sam Wallace wrote Chelsea said that "it is another significant step to them being 'self-financing' and 'fully compliant with the UEFA Financial Fair Play rules.'" Chelsea Chair Bruce Buck said, "We believe that Yokohama will play a key role in helping us drive our global expansion in international markets such as the U.S., where they have operated with distinction for many years. Also, of course, Chelsea having such an esteemed and historic Japanese company as our partner enables us to accelerate our development in their home market too" (INDEPENDENT, 2/26). Also in London, Matt Law wrote the deal ensures Chelsea Manager José Mourinho "can make major raids in the summer transfer market." Chelsea believes the sponsorship deal underlines its position "as a global brand leader" and will ensure that Mourinho can keep up with ManU, Man City and Arsenal in the transfer market. Yokohama worldwide has a business network spanning over 100 countries, including the U.S., Japan, China and Australia, and the company "already has sponsorship deals with NBA teams the Boston Celtics and the San Antonio Spurs" (TELEGRAPH, 2/26).
