EPL : Chelsea and adidas to end partnership six years early in 2017
It is understood that Chelsea initiated talks to end the deal early and are happy to pay the £40m termination fee. adidas has been the sponsor and sportswear supplier for the Premier League club since 2006.
Chelsea looked at all their commercial deals and realised they could get a lot more than the £30m a year they were receiving from adidas.
They signed the £30m-a-year deal in June 2013 and were surprised when the company secured a £75m-a-year deal with Manchester United 12 months later. They believe they have been one of the world’s most successful clubs and the current adidas deal did not reflect their market value.
A spokesperson at adidas said that the decision was “in line with our strategic business plan where we will sponsor fewer teams in the coming years”.
With Chelsea having just launched their new kit, adidas was asked why the pair were parting company.
The spokesperson stated: “We will still continue to partner with the club until June 30 2017 and we look forward to the 2016/17 season together.”
Chelsea have moved swiftly to clinch a kit deal with Nike. Blues set for record £60m-a-year partnership from 2017/18 season
Adidas continue to be in discussions with Real Madrid about renewing their kit deal with that agreement expected to be worth a world record £1bn over 10 years. That would be more than Manchester United’s 10-year £750m deal.