Chelsea sign kit deal with Nike

Chelsea Football Club have announced they’ve reached an agreement with Nike, ending their current agreement with Adidas at the end of this season.

https://twitter.com/ChelseaFC/status/786561007925792768

Nike will manufacture all kits for the club, training apparel and all leisure wear for fans to purchase.

The deal with Adidas has been ended earlier than planned and as a result, Chelsea have had to pay for the convenience.

According to Kaveh Solhekol of Sky Sports, the fee to exit the current deal was £40m. The new Nike deal has been signed for 15 seasons, worth £60m per year.

Chelsea sign 15-year deal with Nike worth £60m a season. Chelsea paid £40m termination fee to get out of £30m a year Adidas deal

— Kaveh Solhekol (@SkyKaveh) October 13, 2016

This is Chelsea’s biggest commercial deal to date and shows signs that the club’s reach and brand are growing.