Football: Chelsea sign $1.5b shirt deal

Chelsea's Diego Costa celebrates scoring a goal. Photo / AP

Chelsea have signed a kit sponsorship contract with Nike understood to be worth £900 million (NZ$1.5b) over 15 years, the biggest in the club's history.

The Blues had announced they were parting company with adidas at the end of the season in May, after the pair decided to terminate their current deal six years early.

The 15-year deal, at £60m per season, is set to become the biggest in the history of sport in this country.

Adidas' shirt deal was worth £30million annually - a figure that has been doubled by their American sportswear rivals, despite the fact Chelsea are not competing in Europe this season.

The long-term agreement sees Nike take over from the beginning of the 2017-18 season, producing strips for the first-team, academy and ladies teams and a full range of clothing.

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.

Trevor Edwards, president of the Nike Brand, said: 'Chelsea is a world-class club with a rich tradition and passionate fans across the globe.

"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."

As revealed by Daily Mail in May, Chelsea and adidas' split was by mutual consent but talks were instigated by the former for some time.

The west London outfit had grown increasingly annoyed by the way the German company have been concentrating on Manchester United, Real Madrid, Bayern Munich and Juventus, and on signing new players.

And the financial gain of Nike's deal will now increase Chelsea's leeway in regards to Financial Fair Play too.

UEFA's monetary model is calculated over a three-year period with clubs currently allowed to spend around £23m more than they earn for the 2015-16, 2016-17 and 2017-18 seasons.

Chelsea's failure to qualify for the Champions League cost upwards of £40m, a figure that won't hinder them severely now with the Nike deal as well as the extra revenue that will be sustained from the Premier League's bumper TV deal.

Chelsea's new deal with Nike will be significantly more per year than the latter's with Manchester City (£12m) and Arsenal's agreement with Puma (£30m).

However, it is still below Manchester United's staggering 10-year £75m-per-season contract with adidas, which came into effect at the start of the 2015-16 campaign.

TOP PREMIER LEAGUE KIT DEALS
1) Man United - adidas - £75m a year (NZ$129m)
2) Chelsea - Nike - £60m (NZ$103m)
3) Arsenal - Puma - £30m (NZ$56m)
4) Chelsea - adidas - £30m (NZ$56m)
5) Liverpool - New Balance - £25m ($NZ43m)
6) Manchester City - Nike £12m ($NZ20m)
7) Tottenham - Under Armour - £10m - (NZ$17.2m)
8) Everton - Umbro - £6m- ($NZ10.m)3