Chelsea have confirmed a £60 million per year agreement with Nike that runs to 2032, which is being lauded as the largest commercial deal in the club’s history.
Adidas was paying Chelsea £30m-a-season, however, it will be replaced by the American sports apparel giants from next season and for the following 15 years.
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The deal, which was initiated by the London club, will put them in the mix with the biggest clubs in world football.
It was in May when Chelsea told Adidas they would be terminating their deal six years early in 2017.
The west London club have paid their former kit manufacturers a £40m fee in order to curtail the agreement.
Chelsea were said to be unhappy with the sponsor, as they were receiving less than half of the £75m per year that Manchester United were getting from the German multinational.
Adidas will not only provide kits for the first team, but they will also be working with the academy and the ladies sides.
Chelsea’s director Marina Granovskaia hailed the groundbreaking deal.
“This is an incredibly exciting and important deal for the club,” she told the club’s official website.
“Like Chelsea, Nike is known around the world for its excellence and innovation and we look forward to working together in what is sure to be a successful partnership.
“We believe Nike will be able to support our growth into new markets as well as helping us maintain our place among the world’s elite football clubs.”
The majority of fans are hardly interested in their club’s off-field money stories. However, this one is huge.
For Chelsea to sign with a sponsor such as Nike opens up a window of global opportunities in the future.
With the company already sponsoring clubs like Manchester United, Manchester City, Barcelona and are currently negotiating a world-record kit deal with Real Madrid, it just puts the Blues in the elite bracket when it comes to their sponsor and market value.