By David Gold

chelsea samsgunSeptember 11 - South Korean electronics giant Samsung has extended its shirt sponsorship deal with Premier League side Chelsea.

Samsung, which is also a worldwide Olympic sponsor, had an option to continue the present agreement until 2015, which it has confirmed it will do.

The company had until the end of June to decide whether to continue the relationship with the European champions, which began in 2005.

Chelsea make £15 million (€19 million million/$24 million) a year from the deal, but this is a figure which is dwarfed by the two most popular teams in England; Manchester United and Liverpool.

It will still be a boost to the club as they look to comply with UEFA's new Financial Fair Play rules.

Those rules stipulate that clubs cannot lose more than €45 million (£38 million/$59 million) over the first two years of accounts analysed, and in time this figure will reduce to nil.

Chelsea's last accounts showed a loss of £67.7 million (€80 million/$106 million).

They have since signed a number of key deals, including with Delta, Sauber and Audi, which will go some way to helping to meet the new regulations.

Russian state owned energy giant Gazprom also agreed a sponsorship deal with the Londoners earlier this summer – just a week after the company had signed a deal to become a partner of UEFA.

These deals, combined with the prize money earned from Chelsea's success in winning the Champions League last season, mean that the club's next accounts will make for intriguing reading.

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