US-based global sportswear group Reebok has entered into a new three-year, £21 million kit sponsorship agreement with elite UK soccer club Liverpool.

The sportswear giant renews its support of the Premier League club at a far higher price than its previous £5m a year deal, although it still lags the Manchester United / Umbro sponsorship said to be worth between £6m-£8m annually. The funds, says Liverpool, will go towards developing its own youth academy, improvements to its Anfield stadium, and strengthening the playing squad.

Sourced from: Financial Times