By Seb Joseph

Adidas’ sponsorship of the Chelsea football team is to end six years early in a move that will see the former receive an undisclosed amount from the latter.

Details of the fee are undisclosed though it will reportedly lift the sportswear maker’s net income in the second quarter by a sum in the mid-double-digit million euros region.

The decision is a mutual one and the lucrative sponsorship, which is reportedly worth £300m over 10 years, will now finish next summer. It ends a relationship that dates back to 2006 when Adidas first started manufacturing kits for the club.

The agreement Read full story ›

Source: The Drum