Chelsea have announced a new shirt sponsorship agreement with Yokohama Rubber in a deal which is believed to be worth £40m a year.

Tyre manufacturer Yokohama Rubber have signed a five-year contract with the Premier League leaders to show their logo on all of the club's shirts from the beginning of next season.

"We believe that Yokohama will play a key role in helping us drive our global expansion in international markets, such as the United States, where they have operated with distinction for many years," Chelsea chairman Bruce Buck revealed in a statement.

"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.

"We are also looking forward to working with Yokohama on our community projects around the world through the Chelsea Foundation, when together we can use the power of sport as a force for good."

Chelsea's current deal with Samsung is reportedly worth £18m a year.