Image: Adidas/Chelsea Football Club Image: Adidas/Chelsea Football Club

Adidas and Chelsea have agreed to end their kit sponsorship contract, worth a reported £300 million over 10 years, six years early.

The two agreed a 10-year renewal in 2013, but have now mutually agreed to end the deal at the end of the 2016/17 season.

Adidas has previously said that it wants to reduce its sponsorship among teams and players to focus on key parties. The £300m renewal agreed in 2013 was the biggest kit sponsorship deal in Premier League history, but Adidas broke that record again a year later when it signed a £750m deal with Manchester United. The Sportswear giant is focusing on Real Madrid in Spain, Bayern Munich in Germany and Juventus in Italy.

Ending the deal six years early means Chelsea will have to pay Adidas an estimated £40m. But that suggests that the club has a significantly larger kit deal lined up. As a result, Adidas expects profits for the year to be up by around 25%, instead of the 15-18% previously forecast.

In a statement, it said: "Adidas... wishes to expressly thank Chelsea Football Club for their always professional and successful collaboration, which has included, among other successes, the time of their UEFA Champions League title in 2012 as well as two Premier League titles."