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After ending their partnership with adidas 6-years early last May, Chelsea wasted little time in signing a new technical sponsor. The Blues signed a new technical sponsorship deal with Nike that is reported to be for $1.1 billion over the next 15-years starting prior to the 2017/18 Premier League season.

Nike will provide the team kits for the first team, academy, and ladies’ team along with a full line of club leisure wear.

The $73.5 million per season the club will receive is double what the London club were being paid by former technical sponsor adidas. Chelsea and the 3-Stripes ‘mutually’ agreed to terminate their contract but reports indicate Chelsea pushed the issue with adidas focusing more on other clubs.

“This is an incredibly exciting and important deal for the club,” Chelsea director Marina Granovskaia said. “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.”

“Chelsea is a world-class club with a rich tradition and passionate fans across the globe,” Trevor Edwards, President of the Nike Brand, added. “The partnership with Chelsea reinforces our leadership position in football. We are excited to help grow the club’s global reach, serving players and supporters with Nike innovation and design.”

The deal will ease some of the financial pressures of missing out on this year’s UEFA Champions League and the $50 million in revenues.

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