Liverpool are in negotiations to seal a record Premier League kit deal, with club officials looking to eclipse Manchester United's £75million-a-year agreement with adidas.

The Anfield club's current kit deal with New Balance ends at the end of the 2019-20 season and it is understood that talks to extend the current deal under improved terms have already got under way.

Liverpool's current deal is worth £45m-a-year - but while the club and American kit company consider the agreement a massive success - it is understood New Balance will have to increase their sponsorship offer by at least £30m a year for it to continue.

Liverpool are in talks with New Balance over a record kit deal starting from the 2020-21 season

They have reported two straight years of record kit sales.

Owners Fenway have overseen massive progress at the club since signing a kit deal with Warrior at the beginning of the 2012-13 season - before the sponsorship switched to parent company New Balance ahead of the 2015-16 season.

Since the New Balance deal was brokered, Liverpool have appointed Jurgen Klopp, who has built a massively talented squad and overseen an exciting brand of football.

Klopp has also developed superstars including Mo Salah, Sadio Mane, Roberto Firmino, Alisson and Virgil van Dijk. They have all committed to the club by signing long-term contracts.

The German has already taken the club - currently top of the league - to a Champions League final, Europa League final and League Cup final.

At present the Premier League leaders earn £45m-a-year with American sportswear giant

BIGGEST PREMIER LEAGUE KIT DEALS (2018-19 SEASON) Manchester United - £75m (adidas) Chelsea - £60m (Nike) Liverpool - £45m (New Balance) Manchester City - £41m (Nike) Arsenal - £30m (Puma) Tottenham - £30m (Nike) Advertisement

Liverpool were also listed in the world's top five strongest football brands in The Football 50 table, conducted by Brand Finance during the summer. Liverpool were behind only Barcelona, Real Madrid, Bayern Munich and Manchester United.

A source close to the talks told Sportsmail: 'The club are established in Europe again and challenging at home. They were the most watched Premier League team last season with 880 million viewers across all competitions.

'Liverpool will be competing with Manchester United's £75m-a-year deal. They are open to extending with New Balance, but if they don't come up with the cash, the club would be open to finding another partner.'

In June, Forbes ranked Liverpool as the fourth most valuable club in the Premier League, behind Manchester United, Chelsea and Arsenal.

Both Arsenal and Chelsea earn £60m a year from their latest kit deals. Arsenal start a five-year deal with adidas worth £300m in the summer, while Chelsea signed 15-year deal with Nike in 2016 worth £900m.

Manchester City have signed a £50m a year deal with Puma starting next season.