Chelsea Renew Shirt Sponsorship Deal with Samsung
By Community | September 7, 2012
European soccer club champions, site Chelsea have extended their partnership with Samsung Electronics Co.
The $23.9 million shirt sponsorship renewal with Chelsea will carry on until 2015.
“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,” the London club said yesterday in an e-mailed statement.
The contract started with Samsung paying 11 million pounds per season as the company replaced Emirates airline on the front of Chelsea’s blue jerseys. That agreement was extended at 15 million pounds five years later, and Samsung had until June 1 to take up its option to renew for a further three seasons.
The shares of Samsung, which is also a sponsor of the Olympic Games, tumbled 7.5 percent on Aug. 27, a day after a U.S. jury verdict found that it copied Apple Inc. (AAPL)’s iPhone.
Sunny Hwang, Samsung’s vice president and head of worldwide sports marketing, said in an interview in May that the world’s largest mobile phone maker would wait until the outcome of Chelsea’s Champions League final with Bayern Munich before committing to a renewal.