Adidas AG is ending its shirt sponsorship deal with English soccer side Chelsea six years early as part of a shift to partner with fewer clubs, prompting the German firm to raise its full-year profit forecast.
Chelsea, which won the Premier League title last season, has had a poor run of form which means it will not compete in European football next season under new boss Antonio Conte.
Adidas has poured cash into soccer deals as it fights to retain its leading position in the sport in the face of increased competition from Nike as well as relative newcomer Under Armour and German rival Puma. Read more
