Chelsea are expected to announced a £20million-per-year shirt sponsorship deal with cryptocurrency group WhaleFin in the coming days.
The Blues are currently looking for new sponsors after losing lucrative deals with Three, Hyundai, Zapp and Parimatch in March due to Roman Abramovich being sanctioned by the UK government for allegedly having ties with Vladimir Putin, something he denies.
Russian president Putin ordered his troops to invade neighbouring Ukraine in February and a violent war has raged since. The sanctions imposed on Abramovich mean Chelsea are not allowed to negotiate new contracts in the fear it could bolster the oligarch's wealth.