"?Chelsea have announced a new club record partnership with Nike that will see the American sportswear giant supply the club's kits and official clothing from the start of 2017/18.
The new deal will bring to a premature end an 11-year relationship with Nike's biggest competitors, Adidas, with whom the club had an agreement until 2022.
.@ChelseaFC today announces a new technical partnership with Nike... https://t.co/VPpce15AkX pic.twitter.com/kir8ThoZRT
Rumours that emerged in May put the Nike contract at a value of £60m-per-year, around double what Chelsea were earning from their Adidas partnership.
Thought to be 15 years in length, the club is set to rake in around £900m from from the deal, making it one of the most lucrative of its type anywhere in the world.
Understand Chelsea's deal with Nike is for 15 years at £60m each season. That's around £900m in total.... #cfc
Chelsea director Marina Granovskaia told the club's official website, "This is an incredibly exciting and important deal for the club.
"Like Chelsea, Nike is known around the world for its excellence and innovation and we look forward to working together in what is sure to be a successful partnership.
"We believe Nike will be able to support our growth into new markets as well as helping us maintain our place among the world's elite football clubs."
Could this be their new kit next season? pic.twitter.com/dljQkqpoyc
Nike brand president Trevor Edwards echoed the sentiment.
"Chelsea is a world-class club with a rich tradition and passionate fans across the globe," he said.
"The partnership with Chelsea reinforces our leadership position in football. We are excited to help grow the club's global reach, serving players and supporters with Nike innovation and design."
To continue the discussion on Twitter follow @jamiespencer155