As its New Balance contract comes to an end this year, Premier League leader Liverpool is said to be signing a new deal with the Swoosh.

Details are currently limited, but Forbes reports that Liverpool and Nike are "on the verge" of inking a new deal that could end up being the richest of its kind in the Premier League.

Set to begin in the 2020-21 season, the numbers would reportedly dwarf that of the league's current most valuable deal between Manchester United and Adidas. That sponsorship kicked off in 2015, with Adidas reportedly agreeing to pay the club $1.3 billion over the deal's 10-year duration. At the time, it was said to be over double the value of Manchester United's previous agreement with Nike.

UPDATE (01/07): Today, Liverpool FC has announced that Nike will become the official kit supplier of the team. The football club confirms that the multi-year deal will begin on Jun. 1 and will see the Swoosh supply the team's playing, trainin,g and travel wear as well as outfitting the men’s, women’s, and Academy squads, in addition to the coaching staff and Liverpool FC Foundation. The financial details regarding the deal were not disclosed by the team.