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Adidas Loses Chelsea Deal as Soccer Sponsor Battle Escalates

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Adidas AG will part ways with London’s Chelsea soccer club, getting a payoff of at least 50 million euros ($57 million) as a battle to sponsor Europe’s top sports teams intensifies.

The 10-year deal will end in June 2017, six years earlier than planned, the organizations said late Wednesday. The decision was reached by mutual agreement, they said.