Chelsea end adidas deal six years early as Blues are set to secure new sponsor

CHELSEA have ended their ten-year partnership with adidas by terminating their kit deal six seasons early.

The Blues were contracted with the sportswear giants until 2023 — but both parties have agreed to a mutual termination to take place at the end of the 2016/17 campaign.

The west London club will provide compensation for the £30million-a-year contract, and it is believed they have secured a sponsorship with one of the German companies’ rivals

A statement on Chelsea’s website 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 posted on their official website: “Chelsea Football Club and adidas AG announced today that they have mutually agreed to terminate their existing partnership agreement prematurely. The agreement will now end on June 30, 2017 and not, as originally agreed, on June 30, 2023.

adidas has been sponsor and sportswear supplier for Chelsea Football Club since 2006. 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.

“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.