Chelsea, Nike Ink Massive Sponsorship Deal

(RTTNews) - Chelsea Football Club has signed a massive kit deal with Nike Inc. (NKE) worth 900 million pounds over 15 years, making it one of the largest deal in the Premier League.

Chelsea said the new agreement with Nike is the "largest commercial deal in the club's history.

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

The Blues, as the football club is popularly known, had earlier announced the termination of its deal with Adidas at the end of the season in May. According to Fortune.com, Chelsea paid a penalty of 50 million euros to break away from its Adidas contract, which was due to run until 2023.

The new deal will allow Nike to start making uniforms from the 2017-2018 season for the first team as well as the Academy and women's teams. Nike will also make a full range of clothing for Chelsea's supporters as well.

Nike now has deals with two English Premier League teams, Chelsea and Manchester City. While, Adidas still has several agreement with several majr English clubs, including Manchester United, Sunderland, West Bromwich Albion and Middlesbrough.