Sauber's cars have had 'Out of the Blue' and 'True Blue' written on their engine covers at Formula One grands prix in China and Bahrain this season.

The official deal between the two parties was confirmed on Monday, meaning Chelsea's logo will appear on the Sauber cars for the first time at next week's Spanish Grand Prix.

"A partnership like this between Formula One and Football has never existed before in this form, yet there are numerous commonalities and possible synergies," Sauber CEO Monisha Kaltenborn said.

"In either case we are talking about team sport at the highest - and international - level. The Sauber F1 Team and Chelsea FC are dealing with many of the same sporting and commercial topics and we want to strengthen each other in these areas.

"We are looking forward to exploiting these opportunities, and we congratulate Chelsea on making it to the final of the Champions League."

Chelsea chief executive Ron Gourlay believes both teams have similar values and is looking forward to the benefits the partnership will bring.

"This is an innovative partnership that will see a football club link up with a Formula One team like never before, bringing together two of the world's biggest sports and uniting our fans," Gourlay said.

"We felt that this Swiss team, the fourth oldest of the existing teams, reflects our own ideals perfectly. In a year when Chelsea celebrates 20 seasons as a Premier League team, Sauber does so as a Formula One team.

"We share many philosophies when it comes to how the respective organisations are run, from the development of young talent to constantly striving for success.

"Sauber's philosophy towards grassroots development has produced some of the best drivers in F1, which mirrors our dedication to develop promising young football talent through our Academy.

"This partnership will benefit us both greatly, with the potential to create unique commercial opportunities. It is a shared vision to unite the two most attractive sports in the world.

"We look forward to working closely with the Sauber F1 Team and wish them the very best of luck for the remainder of the Formula One season."