Exclusive: Liverpool close to agreeing £70m+ off-pitch deal
Liverpool are close to agreeing a new kit deal with Nike that will smash the £70million-a-year deal barrier, sources have told Football Insider.
The Reds are keen to extend their current agreement with the US-based sports brand, which has now entered its final year.
Talks are believed to be at an advanced stage over a new deal that will eclipse the one that began in June 2020.
There is an eagerness from both parties to extend their agreement given the commercial success of their partnership, now in its fourth season.
Liverpool hope the new deal will be worth fairly similar to the world record £90m-a-year agreement secured by Man United with Adidas in the summer.
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.
They have collaborated on a number of successful projects since signing the agreement, including a merchandise launch with Liverpool minority owner LeBron James.
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.
In other news, Liverpool expected to accept new ‘£300m’ bid