OFFICIAL: Nike Liverpool Kit Deal Confirmed - Promoted By LeBron James

Update: Nike superstar LeBron James posted about the Liverpool FC Nike deal. Why is this important? The main reason why Nike won the court battle against New Balance was that "Nike want[ed] to involve superstars LeBron James, Serena Williams and Drake to promote its Liverpool sponsorship".

REVEALED: Nike To Release Liverpool Converse / Jordan (Nike-Owned Brands) Collection + US Sports Team Collab

Deal To Be Not Anounced Not Before 2020? Liverpool & Nike Win Court Battle Against New Balance

Confirming the reports from the past few months and the court decision from late October, Nike and Liverpool FC have today announced a new multi-year partnership which will commence on June 1, 2020.

This means that we'll see the inaugural Nike Liverpool home (and possible away) kit released on June 1.

Nike Liverpool 20-21 Home, Away & Third Kits Info Leaked

While it was not announced how long the deal would run initially or how much Nike would pay to the club each year, we have figures that were circulating in the media during and after the High Court trial.

The base figure of the Nike x Liverpool kit deal is just £30m a season. This seems low, but in addition to that Nike are offering 20 percent royalties for merchandise sales, reduced to five percent for footwear.

According to The Athletic's James Pearce, Liverpool will additionally receive “£2 million worth of licensed products per season plus a 19 per cent discount on standard UK wholesale prices for additional products.”

There are of course also bonuses for winning the Champions League (£4m), reaching the final (£2m) and winning the Premier League (£2m). All of this results in a conservative estimate of Liverpool’s projected earnings at around £70 million a season.

LEAKED: Nike Liverpool 20-21 Home Kit Color + Info

“We’re delighted to be partnering with Nike, one of the world’s leading brands," says Billy Hogan, Chief Commercial Officer of Liverpool Football Club. "We welcome them to the Liverpool FC family and expect them to be an incredible partner for the club, both at home and in the city of Liverpool, and also globally as we continue to expand our fan base."

“Liverpool Football Club has such a proud heritage and strong identity,” says Bert Hoyt, VP, GM Nike EMEA. “The partnership with Liverpool underscores our leadership in global football, and with the club’s passionate world-wide fan base and strong legacy of success, they have a very bright future ahead. We look forward to partnering with them to serve players and supporters with Nike innovation and design."

Are you happy to see Liverpool team up with Nike for the first time ever? Are you looking forward to the inaugural home and away kits? Comment below.