Chelsea has signed a kit deal with Nike worth approximately $87 million per season, according to the Telegraph.
The club will terminate its current deal with Adidas, which is worth $44 million, six years ahead of schedule. The move away from Adidas will cost Chelsea $58 million in compensation.
The Nike deal will be the second-most lucrative sponsorship in European soccer. Manchester United is currently paid $108 million for their deal with Adidas, while Bayern Munich has the third-largest deal at $61 million.
Chelsea will begin their partnership with Nike in the summer of 2017.