It is understood that Chelsea initiated talks to end the deal early and are happy to pay the £40m termination fee. adidas has been the sponsor and sportswear supplier for the Premier League club since 2006.
They signed a new £30m-a-year deal in June 2013 and were surprised when the company secured a £75m-a-year deal with Manchester United 12 months later. Chelsea believe they could've earned more than the £30m-a-year deal considering they have more value than that in the market.
The former premier league champion are confident of signing a much more lucrative kit deal.
A spokesperson at adidas said that the decision was "in line with our
strategic business plan where we will sponsor fewer teams in the coming years".
Chelsea just launched their new kit for 2016/2017, adidas was asked why the pair were parting company.
The spokesperson stated: "We will still
continue to partner with the club until June 30 2017 and we look forward to the 2016/17 season together.
adidas continue to be in discussions with Real Madrid about renewing their kit deal with that agreement expected to be worth a world record £1bn over 10 years. That would be more than Manchester United's 10-year £750m
deal.
adidas, whose association with the English Cricket Board is also ending next year, are focusing on their big deals with Real Madrid, Manchester United and Bayern Munich.
The spokesperson added: "adidas AG wishesto expressly thank Chelsea Football Club for their always professional and successful
collaboration, which has included, among other successes, the time of their UEFA Champions League title in 2012 as well as two Premier League titles."
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