Chelsea will end their commercial partnership with adidas - six years early.
It is understood that Chelsea initiated talks to end the deal early and are happy to pay the £40m termination fee.
adidas has been the sponsor and sportswear supplier for the Premier League club since 2006.
Chelsea looked at all their commercial deals and realised they could get a lot more than the £30m a year they were receiving from adidas.They signed the £30m-a-year deal in June 2013 and were surprised when the company secured a £75m-a-year deal with Manchester United 12 months later. They believe they have been one of the world's most successful clubs and the current adidas deal did not reflect their market value.
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