Nike’s proposed kit deal with Premier League club Liverpool will pay less upfront than the current deal with New Balance, according to a UK press report.
The Times newspaper has revealed that the deal is worth a guaranteed £30m ($36.9m/€33.8m) per year, more than the £25m per year currently committed by rival brand New Balance, but less than the £45 million fee that industry experts could be achieved.
The Times further revealed that Nike will pay the club a 20-per-cent royalty on net sales of Liverpool products and will use Nike-endorsed names, like tennis player Serena Williams and musician Drake, to promote the club internationally.
The newspaper gained access to Nike’s financial offer from High Court papers in the legal dispute between the two sporting goods brands over rights to outfit the team from next season.
New Balance took legal action against the club, this month, because it believes its ‘matching offer rights’, written into the current contract, should block Nike’s bid to become Liverpool’s kit partner from 2020-2021.