The 66-year-old former England midfielder will also put up for sale five league winners medals and his player awards at British auction house Sotheby’s on May 22, according to Britain’s Sun newspaper.
McDermott won both the Professional Footballers’ Association and Football Writers’ Association awards in 1980. Liverpool’s Mohamed Salah, who won the FWA award on Tuesday, has emulated that feat this season.
McDermott, who scored the opener in Liverpool’s 1977 European Cup final win over Borussia Moenchengladbach and was pivotal in the 1978 and 1981 wins over Bruges and Real Madrid, said he does not need the money.
It is hoped the auction will raise £150,000 ($205,000) — less than the reported weekly salary of £185,000 that Salah would receive in a new deal.
“I might get some stick for it in Liverpool but I don’t really care,” he told the Sun.
“I don’t need the money. But I don’t need medals to be proud of what I’ve done. I already know — and that will not go away.
“I’ve got three kids who are doing very nicely, but I want to give them something before I die. They can pay off the mortgage,” added McDermott, who was capped 25 times.
Liverpool are hot favourites to reach the Champions League final in Kiev on May 26, taking a 5-2 lead into the second leg of their semi-final against Roma on Wednesday.