Manchester United are at the centre of a bidding war for a kit deal that could be worth a record £70m a year, with Nike, Adidas, Warrior and Puma reportedly vying to win the contract.

In a statement the club said: "We currently are in discussions with multiple parties regarding our global retail, apparel and product licensing business starting in the 2015-16 season. This process is a routine practice used for our global and regional sponsorship deals and helps us maximize the value/structure of the club's partnerships."

United's current 13-year sponsorship terms with Nike, which are worth at least £23.5m a year, end at the close of next season. Nike had an exclusivity period to renew its contract but this ended last July, though the American company can still bid and remains the favourite to land the deal.

On Monday, Arsenal announced a £30m-a-year contract with Puma, meaning United are in line to more than double that amount.