Chelsea to earn £230million from adidas deal

Ron Gourlay will have a few quid to spend. Photo: PA

Chelsea and adidas' new 10-year contract is worth 450 million US dollars (£292, 713, 442), Press Association Sport has learned.

The Blues today announced their "biggest deal to date" after chief executive Ron Gourlay negotiated the agreement directly with adidas counterpart Herbert Hainer.

An industry insider with knowledge of the deal confirmed it was worth 45m US dollars a year, or around £290m in total until 2023.

It is significantly more than the reported £18million a season received from Samsung for shirt sponsorship, means the Blues are less reliant on billionaire owner Roman Abramovich and assists in the adherence to UEFA's Financial Fair Play regulations.

Gourlay said: "We are delighted to extend our partnership until 2023 after a highly-successful first seven seasons.

"Both organisations share the same ethos and ambition and the new deal reaffirms adidas' belief in the club's status in world football."

The 2012 Champions League winners and 2013 Europa League champions will bid for further success this term under returning manager Jose Mourinho.

The Blues added in a statement: "This is the biggest deal to date Chelsea FC has signed with a partner and will see the sports brand continue to be the official sponsor and sportswear supplier for the club over the next 10 years.

"The partnership, which began in 2006, has continued to grow during a period of continued success for Chelsea.

"The Blues have won major honours both domestically and in Europe including being the first London club to win the UEFA Champions League. We have also won the Premier League, four FA Cups, the League Cup and last season, the UEFA Europa League."