Liverpool are closing in on a club record kit deal with shirt manufacturers Nike, effective from the start of next season.

The European champions have been in talks with the suppliers since last year as they look to significantly improve the distribution of their replica jerseys across the world, meeting the demands of a vast fanbase.

That has been the cornerstone of negotiations as much as the immediate annual value of the arrangement. Liverpool have offered no guidance as to how much the next deal will be worth beyond confirmation it will be one of the most lucrative in world football.

It will comfortably eclipse the £45 million a year Liverpool currently earn from their arrangement with New Balance, which is in its final season.

Barcelona earn £98 million a year from Nike credit: GETTY IMAGES

Liverpool currently earn £45 million a year from their arrangement with New Balance credit: REX

Liverpool have been seeking to get closer to the £75 million a year earned by Manchester United, which was signed in 2014 to run for ten years.

Barcelona earn £98 million a year from Nike while Real Madrid command £107 million a season with Adidas. That is the kind of ball park Liverpool sought to operate, but their main gripe with the Boston-based New Balance was distribution as well as wanting to see the commercial value of an arrangement increase incrementally - particularly in the light of Liverpool’s recent European success and rise to consistently challenge for the Premier League title.

The club has never been in such a strong position to maximise its commercial opportunities.