This agreement had a term until June 2023 but has now been terminated by the football club as of June 2017. Adidas will be compensated with a ‘mid double-digit’ million euro amount. Consequently, it raises the guidance for the 2016 net income from continuing operations to around €900m and the operating margin to around 7.0% from between 6.6% and 7.0%. This new guidance suggests that Chelsea will pay around €60m.
12 May 2016
Huge gain from Chelsea as it terminates the Adidas sponsoring contract
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Huge gain from Chelsea as it terminates the Adidas sponsoring contract
adidas AG (ADS:WBO) | 0 0 1.8% | Mkt Cap: 37,743m
- Published:
12 May 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
This agreement had a term until June 2023 but has now been terminated by the football club as of June 2017. Adidas will be compensated with a ‘mid double-digit’ million euro amount. Consequently, it raises the guidance for the 2016 net income from continuing operations to around €900m and the operating margin to around 7.0% from between 6.6% and 7.0%. This new guidance suggests that Chelsea will pay around €60m.