Raheem Sterling has verbally agreed a new five-year contract with Manchester City that could be worth £300,000 per week, sources close to the player have told Goal .
Sterling and City have been in talks for over 12 months but a conclusion is now in sight after both parties reached an agreement over the basic wage and the exact structure of the bonuses which will significantly boost his earnings.
The 23-year-old had communicated his desire to stay at City to club representatives earlier this season, but work was still required to find common ground over his value to the Premier League champions.
The basic value of the new deal, which should be signed and confirmed in the near future, will be topped up by lump sums which are split across the length of the agreement, as well as performance-related bonuses.
If all bonuses are met the new deal would earn Sterling over £15 million per year.
Kevin De Bruyne is currently City's highest paid player and, as Goal revealed last year, is paid the Euro equivalent of £200,000 per week.
But the Belgian also received a €10m (£9m) signing-on fee and an €2.25m (£2m) payment for his image rights, both of which are split over the length of his six-year deal.
That makes his current deal worth roughly £265,000-per week, before further performance-related bonuses are considered.
That is likely to be the structure for Sterling's new contract, as the former Liverpool man, like De Bruyne, could also be in line to receive financial rewards for winning the Balon d'Or, the Premier League, Champions League, FA Cup and Carabao Cup, as well as for playing in a certain amount of City's matches.
The news of an agreement comes as good news for City, who have been rewarding their top performers with new contracts over the past 18 months.
Leroy Sane and Bernardo Silva are also in talks with the club over extensions, while John Stones could also be in line for a new deal if he maintains his fine start to the new season.