By Wayne Veysey | UK Chief Correspondent
David Silva is close to agreeing a five-year €240,000-a-week contract with Manchester City, Goal.com has learned.
City officials have held three meetings with the Spanish playmaker’s advisers this summer and have agreed the basic terms of a deal that will take him into the top bracket of earners at the club.
Contrary to some reports, negotiations between the two parties have progressed smoothly and the Premier League champions are confident they have warded off interest from Real Madrid to keep Silva.Madrid officials have been monitoring the 26-year-old throughout the summer - although responding to rumours that the Bernabeu outfit were preparing an official bid, Silva's agent Julio Llorente played down talk of a move in June, stating: "We are ignoring the plans of Real Madrid because he is very integrated at City and winning the Premier League has only increased his commitment to the club."
As Goal.com revealed in March, City were ready to extend the terms of a player whose current contract expires in 2014.
It is understood that the Premier League champions have held three sets of face-to-face talks with Silva’s camp, two in Spain – including one meeting in Barcelona – and a third one in Manchester.
It is likely the new contract will run until 2017 in line with that of manager Roberto Mancini, who agreed a five-year deal in the summer.
City are uneasy at key players entering the final two years of their contracts but are mindful of the considerations of Uefa’s new financial fair play rules and conscious that they want Silva’s deal to fall into the right accounting year so they can demonstrate progress is being made in balancing the books.
Nevertheless, there are not believed to be any obstacles to a fresh deal and the 26-year-old’s pay will leap from its present €175,000 mark to elevate him alongside Yaya Toure, Sergio Aguero and Carlos Tevez in the top tier of City earners.
City recognise how important it is to hold on to Silva, who blossomed into one of the outstanding players in the Premier League during their 2011-12 title-winning campaign, his second season in England.
Speaking towards the end of last season, Silva said he was settled in England and praised manager Roberto Mancini for giving him an integral role in the team.
"I am very happy in England, I have two years left on my contract and I want to see it out,” Silva said. "Right now, I do not want to return [to Spain], I am enjoying life in England, people treat me wonderfully and I want to continue enjoying this.
"Mancini has complete trust in me, which is very important for a player and I am very happy. My team-mates are adapting well to my game and that is very good for me."