Liverpool's new Nike kit deal could rival Manchester United's partnership with adidas as the most lucrative kit deal in the Premier League, as details emerge revealing the true nature of the partnership and its potential benefits for the Champions League holders. 

New Balance have been making kits and training wear for ​the Reds since 2015. However, after months of speculation and legal wrangling, it was finally confirmed on Tuesday that the club had agreed a new kit deal with Nike from next season.

As a result, Nike ​will now assume duties from the beginning the 2020/21 season - news which has been welcomed by large swathes of Liverpool fans who see the American footwear and sportswear giant as a gateway to new opportunities and even big-money signings. 

While there has been some confusion over just how much Liverpool stand to earn from the Nike deal, the Mirror report that the Reds' new agreement can rival ​Manchester United's partnership with adidas as the Premier League's biggest. 

United earn £75m a year from adidas, but the report notes that ​Liverpool 'believe' they could potentially earn this sum every year after agreeing a 20% cut with Nike of all global sales.

Moreover, the Anfield side's deal with Nike is worth around £30m per year and while this may not come close to how much the Red Devils earn from their deal with adidas, the Mirror claim that Liverpool are in a position to more than double this amount each year because they will receive a 20% of every official piece of merchandising sold around the world.

In addition, this new Nike deal will also see the Reds pocket bonus payments if they are able to pick up silverware. To that end, they will be paid £4m if they are able to retain the Champions League, while they could also receive £2m if they are able to secure their first Premier League title. 

Jurgen Klopp's men are currently 13 points ahead of second-placed Leicester City in the league, having also played one game fewer.