South Korean electronics giants Samsung have extended their shirt sponsorship of Chelsea for a further three years, according to Inside World Football.

The deal now means that the European champions will make £15 million a year from the sponsorship. This intake is only eclipsed by Aon who are sponsors of Manchester United and Standard Chartered who sponsor Liverpool.

This deal will come as a relief to Chelsea owner Roman Abramovich whose club recorded a loss of £68 million this year. In order for the Blues to comply with UEFA’s Financial Fair Play Rules, the club must show a loss of under £45 million in its next two accounts.

The extension with Samsung caps off a good year on and off the pitch for Chelsea. On the pitch, although finishing in their lowest Premier League position since Abramovich took ownership of the club, Chelsea have lifted silverware in both the FA Cup and the Champions League.

Off the pitch Chelsea have also agreed deals with Delta, Sauber and Audi, as well as Russian energy giants Gazprom. These partnerships as well as income from Champions League prize money means that the West London club should significantly reduce their debts when the next accounts are released.

To add to the good news off the pitch, UEFA have just crowned the Premier League frontrunners as ‘European Club of the Year’.