Chelsea have secured a £50 million sleeve sponsorship deal with Hyundai for next season with the most lucrative contract of its kind in the Premier League. The five-year deal with the South Korean car manufacturer replaces the one-year contract with Alliance Tyres, a subsidiary of the club’s shirt sponsors Yokohama Tyres, who have two years left on their own five-year deal worth £200 million. Chelsea’s contract with Hyundai is worth double the annual amount of Manchester City’s sleeve sponsorship with Nexen Tire and will set a new benchmark for such deals, with Arsenal and Manchester United both in the process of negotiating their sleeve partnerships for next season. The Hyundai deal is the first major sponsorship arrangement brought in by Chris Townsend, the commercial director