The sports retail giant has nine years remaining on its £60m-per-year deal, which could leave a catastrophic hole in Chelsea’s finances
Nike has refused to confirm its support for Chelsea following the sanctioning of the club’s Russian owner Roman Abramovich, throwing their long-standing partnership into major doubt.
While other club sponsors consider their relationship with Chelsea, Nike has not responded to repeated requests to ascertain if the sports retail giant is sticking by the beleaguered Premier League side.
Nike has nine years remaining on its £60m-per-year deal, signed in 2016, that would leave a catastrophic £540m hole in Chelsea’s finances should the deal be terminated due to Abramovich’s situation.
However,
Nike will remain committed to Chelsea FC amid Roman Abramovich‘s recent sanction by the UK Government, reports claim.
It’s understood that the manufacturer will not cut relations with the London club, despite fears they could walk away after shirt sponsor Three suspended their deal with the Blues this week and asking for their logo to be removed from the kits.
Any end to the agreement would be a massive blow for the Blues, with the deal being worth around £900m across it’s 15 year contract.
However, according to The Athletic, Nike will not be cutting ties with Chelsea.
Chelsea, however, has been placed under a series of special restrictions in order to allow the football club to continue operating. The Government wants to ensure one of England’s leading teams does not implode financially.
Abramovich, 55, is still able to sell Chelsea provided he does not benefit in any way from the proceeds.
A statement read: ‘In light of the Government’s recently-announced sanctions, we have requested Chelsea Football Club temporarily suspend our sponsorship of the club including the removal our brand from the and around the stadium until further notice.
‘We recognise that this decision will impact the many fans who follow the their team passionately.
‘However, we feel that given the circumstance, and the Government sanction that is in place, it is the right thing to do.
