Both Adidas and Chelsea announced last week that they would part ways after the 2016-2017 season, ending their current contract six years early. As part of the agreement, Chelsea agreed to pay the sportswear maker an early-termination fee.
Chelsea this month wrapped up a lack-lustre season in the English Premier League, finishing in the middle of the standings and out of lucrative Champions League qualification just a year after winning the EPL. Unheralded Leicester City FC won this year’s championship in one of the most unlikely sports upsets in recent history.
Nike, which currently outfits Manchester City FC, has ceded some of its top English soccer assets to rival sportswear firms in recent years, after Arsenal and Manchester United signed contracts with Puma AG and Adidas, respectively, in 2014.