Real Madrid star Vinicius Jr ‘to sign new deal’ with club that includes amazing £1BILLION release clause

BRAZILIAN superstar Vinicius Junior is set to sign a lucrative new contract with Real Madrid, according to reports.

The 21-year-old joined Los Blancos from Flamengo in a £38million deal five years ago and has since become one of the club's most valuable assets.

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Last season he played an integral part in helping the Spanish giants to their 14th Champions League title by scoring the decisive goal in the final against Liverpool.

And now Real Madrid are expected to reward him for his efforts with a brand new deal.

According to Spanish outlet , Vinicius will sign a new contract when he returns for pre-season training in 10 days.

Real Madrid want him to receive more recognition for his growing influence on the squad, so officials have inserted a £1billion release clause into the deal.

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They are reportedly willing to increase his wages from £2.77m-per-year to £8.67m and want him to sign until 2028.

Vinicius recently confirmed that he is eager to extend his current contract, which expires in 2024.

In an interview with SporTV, he said: "I will continue in the biggest club in the world.

"This is just the beginning. I have many things to conquer. I hope to have many trophies at the end of my career.

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"It's normal with age [to gradually develop]. I skipped many steps in training. I became a professional when I was 16 years old and still not fully formed.

"Real represented a huge amount of pressure, but I had the help of Benzema, Marcelo and Casemiro, who are very experienced players."

He also revealed that he is confident that the club will build on it's success in future, adding: "I have always been evolving. This season was good, so I hope the next one will be better."

Real Madrid officials had hoped to sign Erling Haaland or Kylian Mbappe to partner Vinicius ahead of the summer transfer window, but they missed out on both.

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Haaland was bought by Premier League champions Manchester City in a deal worth around £51m.

Meanwhile, Mbappe signed a new contract with Paris Saint-Germain which will see him earn a staggering £500m.