Adidas have been Chelsea’s kit sponsor and sportswear supplier since 2006. However, much to the surprise of everyone, Adidas have confirmed on their official website that the agreement had ended six years in advance.
As per the initial agreement, Adidas would have continued to work with Chelsea until June 30, 2023, but as it stands the deal will end on June 30, 2017.
This mutual agreement on early termination of the agreement will allow Chelsea Football Club sufficient time to find another sponsor to replace them.
Adidas goes on to confirm that they will receive a payment from Chelsea FC in 2017 as compensation for the early termination of the contract that will already positively impact the Group’s net income this year.