It looks like Chelsea will start the season without a contract after Three's sponsorship came to an end. Credit: Chelsea FC/Darren Walsh < p>The final value of Chelsea's proposed sponsorship with start-up Infinite Management will be subject to Premier League fair market value rules.
Infinite Management has put forward a deal to become the club's main face — football a sponsor that one report claims will be worth more than the £40m a year paid by Three.
Chelsea has not yet confirmed or commented on the proposed deal, which has raised some eyebrows given that the formation of Infinite Management was only announced this month and the new firm has investment ties to Chelsea owners Clearlake Capital and Todd Boly.
< p>Tempus Ex Machina, with whom Chelsea signed a seven-year partnership in April, has acquired Biocore to form Infinite Management, with Silver Lake among its partners.
Silver Lake owns over 18% of City Football group. and are investors in Fanatics along with Eldridge, a company owned by Boeli. Last year, Clearlake Capital led a $700 million funding round for Fanatics.
With Tempus Ex Machina estimated at $15.4m (just over £12m) in annual sales, there have been questions outside of Chelsea about where the funding for the over £40m sponsorship deal will come from. year.
Chris Jurasek, Chelsea's new CEO, who is also the CEO of Clearlake Capital, has been put in charge of finding a new sponsor for the club and has held talks with a number of companies. Sources say there are other options besides Infinite Management.
Onward journey: Premier League preview
Chelsea failed to qualify for the Champions League, which created a problem in finding a new sponsor with the same financial level as Three.
The proposed deal with Paramount was blocked by the Premier League, and Chelsea refused preliminary negotiations with online casino Stake. Some pundits have predicted that the top division season will start this weekend and it will be difficult for the club to raise more than £25m a year at this late stage.
Newcastle United, who have qualified for the Champions League, signed a new sponsorship deal this summer for £25m a year with Saudi Arabian event management company Sela, which has passed the Premier League's fair market value rules.
Within the Premier League. rules, major commercial transactions must be reconciled at «fair market value» with an independent appraisal. While the deal is technically unstoppable, clubs could be forced to renegotiate the terms if they are not deemed in line with market prices.
For each fair market value estimate, the Premier League considers applications from the respective club, an independent expert's estimate, and intra-league comparable data.
Clubs may announce sponsorship deals prior to determining fair market value. the evaluation is complete, but the money from the deal will be available only after the green light is given by the league.
Reece James appoints new Chelsea captain 
Reece James is the new leader of the West London club Photo: Getty Images/Matthew Ashton
Matt Lowe
Reece James has been named the new Chelsea captain before 38-year-old Thiago Silva and left-back Ben Chilwell.
James, 23-year-old right-back, said: “I am so happy to take on this role and responsibility. I know I have big responsibilities because we've had great captains in the past, but I'm excited.
«I've been at Chelsea for almost my entire life. I started here when I was six years old and it's hard to get through the academy. But becoming captain is a great feeling for me and my family.”
Head coach Mauricio Pochettino added: “This is a decision made by me and the club. We are very pleased to have Reece captaining the team this season.
“He leads by example and his attitude and dedication to Chelsea was evident throughout the pre-season. He proudly wore the armband during our summer tour and will lead our team with his approach and ideas.”
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