Liverpool are in advanced talks with Nike over an extension to their kit manufacturer deal that will be an uplift on the current £70million-a-year deal, sources have told Football Insider.
The Reds have been partnered with the US-based sports brand since 2019, but the two parties have entered the final year of their current agreement.
There is an eagerness from both parties to extend their agreement given the commercial success of their partnership over the past four years.
They have collaborated on a number of successful projects since signing the agreement, including a merchandise launch with Liverpool minority owner LeBron James.
Nike currently pays Liverpool a fixed £30million per year, but the Merseyside club earns 20 per cent of all proceeds from branded merchandise.
That cut is a much larger percentage than many other Premier League clubs earn from their manufacturer deals, and it is expected that the total value of their agreement is worth around £70million to Liverpool under the current terms.
Both Nike and Liverpool are willing to commit to a new long-term extension.
Liverpool posted commercial revenues of £247million in 2021/22, and that figure is expected to grow further when they release their financial results for the 2022/23 season.
The Reds are hopeful that the new agreement will help bring their deal closer to the valuation of Man United’s latest Adidas renewal.
The Red Devils signed a 10-year deal with Adidas this summer worth a Premier League record £900million throughout its existence.BB
