Chelsea have announced a long-term deal with Nike with the west London club calling the agreement the “largest commercial deal in the club’s history” on Thursday.
The Blues will reportedly be paid $75 million a season by Nike and the new deal will kick in from the start of the 2017-18 season.
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This announcement comes after Chelsea agreed to end their current kit deal with adidas, which still had six years to run, in May. They terminated the contract which saw them paid $40 million per season and reportedly there was a $48 million fee to cancel their adidas deal early.
That’s a hefty fee to pay, but in the long run Chelsea will gain huge benefits financially from this Nike deal — which will reportedly run until 2032 — as this financial package will rival the $90 million Manchester United is paid each season by adidas.
On Thursday the Premier League side released a brief statement on their website with more details on the new deal with Nike.
The long-term agreement will see Nike, the world’s leading sports footwear and apparel company, become the official kit supplier beginning with the 2017/18 season. Nike will produce strips for the first team, Academy and Ladies teams, as well as a full range of clothing for Chelsea’s millions of supporters around the world.
Chelsea director Marina Granovskaia said: ‘This is an incredibly exciting and important deal for the club. Like Chelsea, Nike is known around the world for its excellence and innovation and we look forward to working together in what is sure to be a successful partnership. We believe Nike will be able to support our growth into new markets as well as helping us maintain our place among the world’s elite football clubs.’
Trevor Edwards, President of the Nike Brand, said: ‘Chelsea is a world-class club with a rich tradition and passionate fans across the globe.”
Talk about the rich getting richer…
This huge cash injection will help owner Roman Abramovich continue to fund Chelsea and with a total rebuild of their Stamford Bridge in the works, this extra revenue will be incredibly helpful in paying for that massive project to help get Chelsea to the next level.