Chelsea agree Nike shirt sponsorship deal worth £60million-a-year

Chelsea have signed £60million-a-year shirt sponsorship deal with Nike, according to reports. 

The Blues have been on the lookout for a new kit manufacturer after confirming that their agreement with Adidas will be scrapped at the end of next season. 

According to reports by the Daily Telegraph, a deal has been struck with Nike which will be worth double the current £30million-a-year contract. 

The deal worth £60million every season will help the blues to continue competing at the top end of the transfer market despite failing to qualify for the Champions League. 

It is also reported that leaving their Adidas deal six years early will cost Chelsea an estimated £40million in compensation. 

Nike are believed to have been keen on securing a deal with one of the Premier League's London clubs after severing their ties with Arsenal in 2014.