Manchester United is set to enter into "imminent" talks with Nike in a bid to strike a significantly more lucrative extension to their partnership, according to The Times. United's current 13-year kit deal with Nike took effect in 2002 and was worth £302 million plus half of profits gained from the sale of merchandise. The deal is said to be worth around £38 million this season. The agreement is not scheduled to expire until 2015, but the two parties have recently entered into a six-month exclusive renegotiation window.

If the two parties cannot agree terms during the initial window, United can spend a further six months talking to rival sportswear companies, although Nike still has the option to top any other offer.