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Chelsea buys out kit sponsorship 6 years early

Chelsea buys out kit sponsorship 6 years early

Chelsea buys out kit sponsorship 6 years early
Chelsea will buy out its contract with Adidas six years early to begin a relationship with a new kit partner, according to reports.

Sponsorships can mean big money for football teams. Chelsea’s agreement with the German sportswear manufacturer is thought to be worth £30 million per year, according to the Daily Mail – and the football team’s buyout of the contract will put enough in Adidas’ coffers that the company has boosted its full-year earnings prediction as a result. Adidas said the impact to its earnings is expected to be in the “mid-double-digit million-euro range,” according to a Bloomberg report.

Of course, the £30 million per year Chelsea is thought to have received from Adidas is a bit high; last year, the team was second only to Manchester United in sponsorship dollars – although they’d slipped to fourth place this year. And Adidas spends big money on football; this year, six out of the top 10 kit sponsorship deals were with the company. But insurers are shelling out serious money for sponsorships as well.

Chinese insurer AIA has a £16 million deal with Tottenham, and in 2013 Aon signed a deal with Manchester United said to be worth £180 million to the club over eight years.

Norwich City’s sponsorship agreement with insurer Aviva was thought to be worth more than £1 million per year, according to VitalFootball. Aviva announced in August that it would step aside as the club’s main sponsor, instead becoming Norwich City’s “community partner.” That could be bad news for the club financially – especially as it already faces relegation next year.

Top kit sponsorships
  Brand Yearly
Manchester United Adidas £75m
Bayern Munich Adidas £42.5m
Real Madrid Adidas £34m
Chealsea FC Adidas £30m
Arsenal Puma £30m
FC Barcelona Nike £28m
Liverpool Warrior £25m
Juventas Adidas £20m
AC Milan Adidas £19m
PSG Nike £19m
Source: Totalsportek.com