Chelsea FC signs massive kit deal with Nike
By Jason Parker
Chelsea FC is switching their provider of their uniform kit after reportedly terminating a deal with adidas and signing a massive one with Nike.
In the world of sports apparel companies, the battle is heating up between all the big names like Nike, Under Armour and adidas (just to name a few). While each companies tries to land the next great athlete or team, it can also be about making up for what they have lost.
According to The Telegraph, Nike is landing a major piece of the soccer world as Chelsea FC is going to be moving from their current kit provider, adidas, over to the swoosh in time for the 2017-18 season.
The deal will reportedly be for around $87 million a season, which is the second biggest deal in the world of European soccer. Manchester United has the biggest deal as they are currently getting $108 million a year after moving to adidas from Nike several years ago.
Chelsea FC will terminate their current deal with adidas with six years left on the contract. That move will cost the Blues roughly $58 million in compensation that they will owe the provider as part of the buyout.
The move is the latest by Nike in an effort to gain more power teams and programs into their brand. In American sports, the apparel provider will be welcoming the Michigan Wolverines back to the company starting with the 2016-17 season, a move worth over $150 million.
Recently, Nike has seen a rise in the numbers by competitor Under Armour, who just inked a deal with Washington Nationals star Bryce Harper and currently have a deal with Golden State Warriors star and two time NBA MVP Steph Curry.
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