Manchester City star Foden signs new five-and-a-half-year contract extension

Manchester City teenager Phil Foden has agreed to a new contract which will keep him at the club until 2024, the Premier League champions have announced.

The 18-year-old playmaker's contract was set to expire in 2020, while his potential had reportedly attracted interest from clubs across Europe, though he was eager to remain with City.

Goal previously reported in November Foden was set to agree a deal, with sources close to the player saying the new terms represented a considerable increase from his current £15,000-per-week deal.

Man City have suffered difficult losses among their youth ranks in recent years, as England international Jadon Sancho departed the club to receive an opportunity at Borussia Dortmund and youngster Brahim Diaz looks set to leave for Real Madrid in the summer.

Sancho has starred for Dortmund this season, with five goals and six assists this season in the Bundesliga, the latter number good for third in the German top-flight.

But Man City have now avoided a similar fate with Foden, who has been part of the club's set up since he was eight years old, having locked him down for the next five and a half seasons.

“We are delighted to have secured Phil for the next five and a half years," Man City Director of Football Txiki Begiristain said in a statement.

“He is an outstanding talent and he is Manchester City born and bred so this is where he wants to play his football.

“Under Pep [Guardiola] and with the players we have here around him, he is in the best place possible to develop as a player.”

Foden came up through the Man City youth ranks and made his debut for the senior side in November 2017 against Feyenoord in the Champions League. He earned his first start in the same competiton a month later.

This season, Foden has made eight Premier League appearances off the bench for the club, up from five all of last season, while receiving a pair of starts in the Carabao Cup.

It was in one of those cup starts the teenager bagged his only first-team goal for Man City, in their 3-0 victory over Oxford in September.

Guardiola has spoken previously of his admiration of the Stockport-born teenager and his desire to aid Foden as he looked to make the step up into the club's first team.

Foden also marks the club retaining another highly-regarded player, as Raheem Sterling signed through 2023 in November.