Chelsea set to net £900million from new kit deal
Chelsea are expected to make £900million after striking a new kit and clothing deal with Nike.
The Premier League club announced in May they would be ending a partnership with adidas six years early, at the end of June 2017. That deal with the German sportswear firm was said to be worth a reported £30million each year.
Press Association Sport understands the new contract is for 15 years and worth £60million annually to Chelsea.
It lifts Chelsea closer to the top of the market in kit deals agreed by the world's leading sides.
Manchester United's deal 10-year deal with adidas, which started for the 2015-16 season, is worth £750million.
Spanish giants Barcelona are reported to receive £120million a year from their agreement with Nike.
In a statement on Chelsea's website, the latest contract is described as "a new technical partnership with Nike, which represents the largest commercial deal in the club's history".
It was announced minutes before speculation began to surround Chelsea manager Antonio Conte, as bookmakers cut the odds on him becoming the next Premier League manager to lose his job, and in some cases refused to take any more bets.
Chelsea were understood to be dismissive of talk of the Italian leaving Stamford Bridge. Conte only joined Chelsea in the summer.
The Nike deal may yet strengthen Conte's hand in the transfer market next summer.
As part of the partnership which starts for the 2017/2018 season, Nike will supply kits for the Chelsea first team and also the a cademy and ladies sides.
Chelsea director Marina Granovskaia said: "This is an incredibly exciting and important deal for the club.
"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."