Chelsea caution despite £50m deal

CHELSEA have set their sights on “turning the world blue” by replacing Manchester United as the richest club on the planet after signing a record £50 million club sponsorship deal.

However, chief executive Peter Kenyon revealed the club would still limit their summer transfer spending to at most three new players. Not that the Blues are exactly within a financial straightjacket, given that they have just raised £50 million over the next five years from electronics firm Samsung.

The deal eclipses Manchester United’s four-year contract with Vodafone, which is worth £36 million, as well as Arsenal’s new tie-up with Emirates from next season.