Liverpool are in the market for a record-breaking new kit deal.

The Reds' current arrangement with New Balance, which is worth around £45million per season, expires at the end of the 2019/20 campaign.

Managing director Billy Hogan is leading the club's pursuit of a new deal which recognises Liverpool's thrilling resurgence as a dominant force both in the Premier League and the Champions League under Jurgen Klopp.

Manchester United have the most lucrative contract in the top-flight as they bank around £75million per season from Adidas. The Reds believe they should be commanding that kind of figure.

The ECHO understands that discussions are underway with New Balance over a possible extension but Liverpool are also open to offers from rival kit suppliers such as Adidas, Nike and Puma.

The Reds have worn New Balance shirts since 2015/16 having previously worked with their affiliate company Warrior from 2012/13.

The partnership has been successful with last season's home kit the highest selling in the club's history.

Show Player

However, if New Balance want to retain it they will have to offer Liverpool a hefty increase on the current terms.

As well as United, Arsenal (Adidas £50m per year), Manchester City (Puma £50m per year) and Chelsea (Nike £60m per year) all currently earn more than Liverpool from their kit suppliers.

Look at some of Liverpool's greatest kits down the years HERE

Having reached the final of last season's Champions League and set the pace in this term's Premier League title race, the Reds insist the arrangement is now much more valuable.

Liverpool will also point to the fact that they have star players such as Mohamed Salah, Sadio Mane and Roberto Firmino all committed to long-term contracts and a charismatic boss in Klopp who always wears a club tracksuit on the touchline.

It should certainly be an attractive proposition with the club boasting one of the most sophisticated retail operations in world sport.

An international network of retail partners means they have more than 500 stores in key Asian markets alone, while they also ship goods to more than 150 countries through their e-commerce platforms.

Show more

According to Brand Finance, Liverpool FC's brand value has increased by 33% in the last 12 months. The Reds were the most watched English team across all competitions last season with around 880 million viewers across the globe.

Liverpool will continue to wear New Balance shirts until at least May 2020 with the new deal they are currently pursuing set to kick in prior to the 2020/21 season.