Samsung Renews Its $24M Jersey Deal With Chelsea
Samsung Electronics "took up an option" to renew its £15M ($23.9M) yearly jersey sponsorship with Chelsea FC through '15, according to Tariq Panja of BLOOMBERG. The UEFA Champions League winners originally "signed a partnership agreement" with the South Korean electronics manufacturer in '05. In a statement, the club said, "Samsung have exercised their right to extend their deal, which will see them remain as a premium partner of the club until the end of May 2015." Chelsea’s contract with Samsung is one of the largest in English football, "though lower than the sums negotiated" by Premier League rivals ManU and Liverpool. In July, ManU announced it had signed a seven-year $559M deal with General Motors Co. for its Chevrolet brand to replace Aon Corp as the team’s lead sponsor from '14 (BLOOMBERG, 9/6).