New Balance has started legal proceedings against Liverpool for what it believes is a breach of a matching clause agreement

Liverpool’s proposed new kit deal with Nike is only worth a guaranteed £30 million per year, according to High Court papers seen by The Times.

On top of that agreement, there is a commitment from the American sportswear manufacturers to pay the club a 20 per cent royalty on net sales of Liverpool Football Club products and promote the club through stars like tennis player Serena Williams and musician Drake.

The base figure is surprising and less than the present £45 million-a-year deal with New Balance, which has commenced legal proceedings against the Anfield club claiming it can match Nike’s terms.

It is also below the £50 million-plus-a-year deals negotiated by Premier League rivals Chelsea and Tottenham Hotspur with Nike, and also the £71