Chelsea announces Nike sponsorship

October 14, 2016

Yesterday, English capital football club Chelsea FC announced a long-term deal with US sports company.

Currently, German company made the kits for The Blues, a deal worth 30 million annually. Chelsea's contract with Adidas runs till 2023. Chelsea is obliged to pay about £40 million to the German firm. Chelsea's termination of Adidas's contract was announced in May.

Per the contract with the US company, Chelsea would receive a reported sum of £60 million each year. Announcing a long term contract, Nike Brand president Trevor Edwards said, "The partnership with Chelsea reinforces our leadership position in football. We are excited to help grow the club's global reach, serving players and supporters with Nike innovation and design."

Chelsea director, for the team's part, said, "This is an incredibly exciting and important deal for the club."

Chelsea won the in 2014–15 under Portuguese manager José Mourinho but they finished tenth last season.

Adidas and Spanish club Real Madrid signed a ten year contract earlier this year and the German sports brand sponsors other football giants like FC Bayern München, Juventus F.C., A.C. Milan, and Manchester United F.C.