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Chelsea, adidas to end partnership 6 years early

Sunderland v Chelsea - Premier League

SUNDERLAND, ENGLAND - MAY 07: John Terry of Chelsea arrives for the Barclays Premier League match between Sunderland and Chelsea at the Stadium of Light on May 7, 2016 in Sunderland, United Kingdom. (Photo by Ian MacNicol/Getty Images)

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LONDON (AP) Chelsea and sportswear giant adidas will terminate their longstanding partnership at the end of the 2016-17 season, six years earlier than originally planned.

Both parties made the announcement on Wednesday, saying it was a mutual agreement. adidas has been a sponsor and sportswear supplier of Chelsea since 2006.

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The German company said in a statement that it will receive compensation from Chelsea to end the deal early, allowing the Premier League club to “enter a new equipment agreement with a competitor.”