Chelsea and Adidas have mutually agreed to terminate their existing partnership agreement prematurely.
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. Furthermore, they claim that they are formulating a strategic business plan ‘Creating the New’ under which they will partner with fewer assets on a team level.
Finally, Adidas have thanked Chelsea FC for their successful collaboration, which has included, among other successes, the time of their UEFA Champions League title in 2012 as well as two Premier League titles.
Chelsea have launched their brand new 2016-17 home kit made by Adidas earlier this month. The new kit comes in the club’s traditional blue colour, featuring a white v-collar with blue trim.
The new 16-17 home kit has the iconic Adidas three stripes running down on both sides of the new Chelsea home shirt. The home, away and the third kit is sponsored by Yokohama; the sponsor logo visible on the front, the ‘Tyres’ annex has in the end not been dropped while the overall combination of blue and white colour adds a soothing visual effect.
The new Chelsea home shirt, available for pre-order at £90, will be debuted against Leicester City in Chelsea’s final Premier League game of the season at Stamford Bridge.