The Asian-firm will supply kits worth 350,000 US Dollars every year to the Berekum-based club as part of the agreement.
Obed Nana Nketia, Chief Executive of the Club told GNA Sports in Accra that discussions have reached an advanced stage and a deal will be penned later this week.
He said aside the supply of footballs, training gears, hoses and shin guards amongst others, the Club will benefit from a training tour of Singapore prior to every soccer season.
The Chief Executive was optimistic that the partnership will help propel the Club to dizzy heights.
The agreement makes Chelsea the third club after Kumasi Asante Kotoko and Accra Hearts of Oak with a kit sponsor. Kotoko are hooked to the United States-based Plus-one and Hearts to Jako of Germany.
Chelsea are seven points clear at the summit of the Premier League after the first round of matches.