Chelsea have pulled the plug on their £30million-a-year kit deal with adidas – SIX YEARS early.
The Blues will pay a compensation fee to the German sports brand giant after mutually agreeing to terminate their 10-year deal at the end of next season.
The announcement comes just one week after Chelsea and adidas launched the club’s new home strip – which will cost fans £60 for a replica.
Now a host of rival brands are now in the running to take over Chelsea’s kit deal, including Tottenham Hotspur’s American suppliers Under Armour and England’s partners Nike.
A statement from the club read: “Chelsea Football Club can confirm we have mutually agreed with adidas to end our longstanding partnership at the end of the 2016/17 season.
“Having begun our relationship in 2006, we would like to thank adidas for their fantastic support and cooperation over the past 10 years.
“In that time the club has lifted the UEFA Champions League, UEFA Europa League, two Premier League titles, four FA Cups and two League Cups, and we look forward to a successful final year of partnership.”
Adidas, who entered £750million 10-year-deal with Manchester United last season, revealed they plan to partner fewer big clubs going forward.
With the likes of Real Madrid, Juventus and Bayern Munich already part of their stellar stable, they said in a statement: “The agreement will now end on June 30, 2017 and not, as originally agreed, on June 30, 2023.
“This mutual agreement on early termination of the agreement will allow Chelsea Football Club to enter a new equipment agreement with a competitor of adidas AG.
“It will allow adidas AG to continue to implement its sports sponsorship strategy as set out in its strategic business plan ‘Creating the New’. Under this plan, adidas AG will partner with fewer assets on a team level.
“As compensation for the early termination of the contract, the adidas Group will receive a payment from Chelsea Football Club in 2017 that will already positively impact the Group’s net income this year.”
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