Liverpool agree Nike financial settlement to move start date for new kit deal

Liverpool will lift the Premier League trophy wearing this year’s New Balance kit, after reaching a financial settlement with new sponsor Nike.

The American giant takes over from the current kit manufacturer on June 1.

The Reds signed up with Nike back in December – after a court case to get out of their New Balance agreement – and agreed a basic £30million deal with the US giant, plus a cut of 20 per cent of all sales.

Crucially, they believe that that figure will take them much closer to the £70milion-a-year Adidas pay Manchester United.

That cut in sales was the key selling point for Liverpool, given Nike's huge worldwide reach.

But the coronavirus pandemic and the suspension of the season left the club with a major issue over the remainder of the campaign, when it restarts in June.

The deal with New Balance ends on May 31, and despite the issue between the parties that led to the High Court, they have produced the biggest-selling kit in the club's history.

And the club’s Premier League dominance this season has seen the sportswear company view Liverpool’s first league title in 30 years as a major marketing opportunity – even as their contract ends.

As such, the remainder of the campaign and the imminent end to the New Balance deal had become a cause of consternation for all parties, with matches still to be played and at least one commercial deal not to be fully honoured.

Now, following talks between all parties that first began in March, Liverpool will continue the season in New Balance, something the club had always been keen on doing.

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