Chelsea and their sponsors, Adidas, have announced today that they have mutually agreed to terminate their existing partnership agreement prematurely.
Adidas has been the sponsor and sportswear supplier for Chelsea since 2006, but much to the surprise of many today confirmed on their official website that the agreement had been ended six years in advance.
The agreement was due to expire in June 2023, but the sportswear have confirmed it will now end in June 2017 in order for Chelsea to have suitable time for another sponsor to replace them.
Adidas go on to state that as compensation for the early termination of the contract, they will receive a payment from in 2017 – perhaps indicating it is the Blues who have favoured the deal to come to an end more.
Chelsea, who won the UEFA Champions League, Europa League, two Premier League titles and four FA Cups – amongst other trophies – with Adidas as their sponsors, will now be keen to draft a fresh partnership as soon as possible.
Chelsea signed what was the biggest shirt deal in the history of the Premier League with Adidas back in 2013 after agreeing a 10-year contract worth £300 million, as reported by the Daily Mail.
The aforementioned figures highlight further the surprise decision taken by both parties involved on Wednesday.
Source: squawka
