LONDON, United Kingdom, May 18 – Chelsea are set to sign a kit sponsorship contract with Nike worth Sh8.7 billion (£60million)-per-year in what will be the second biggest deal in the Premier League.
The Blues announced earlier this month that they are parting company with adidas at the end of next season, after the pair decided to terminate their current deal six years early.
Adidas’ shirt deal was worth Sh4.4 billion (£30million) – a figure that will be doubled by their American sportswear rivals, despite the fact Chelsea won’t be competing in Europe next season.
As revealed by Sportsmail, Chelsea and adidas’ split is said to be by mutual consent but talks were instigated by the former for some time.
The west London outfit had grown increasingly annoyed by the way German company have been concentrating on Manchester United, Real Madrid, Bayern Munich and Juventus, and on signing new players.
And the financial gain of Nike’s deal will increase Chelsea’s leeway in regards to Financial Fair Play too.
UEFA’s monetary model is calculated over a three-year period with clubs currently allowed to spend around Sh 3.3 billion (£23m) more than they earn for the 2015-16, 2016-17 and 2017-18 seasons.
Chelsea’s failure to qualify for the Champions League will cost upwards of £40m, a figure that won’t hinder them severely now with the incoming Nike deal as well as the imminent extra revenue that will be sustained from the Premier League’s bumper TV deal.
Chelsea’s new deal with Nike will be significantly more per year than the latter’s with Manchester City (£12m) and Arsenal’s agreement with Puma (£30m).
However, it is still below Manchester United’s staggering 10-year £75m-per-season contract with adidas, which came into effect this term.