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Adidas to part ways with Chelsea FC

May 11, 2016 3:50 PM ETadidas AG (ADDYY) StockADDYYBy: Clark Schultz, SA News Editor1 Comment
  • Adidas (OTCQX:ADDYY) will end a sponsorship and supplier deal with the Chelsea Football Club six years before the contract was scheduled to terminate.
  • The ten-year partnership between the two will end on June 30, 2017, instead of 2023.
  • Adidas expects to see a net income benefit in the mid-double-digit million euro range as part of a payment tied to the early contract termination.

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