Vinicius Jr has confirmed he is set to sign a new contract at Real Madrid.

The Brazilian only has two years left to run on his current contract but has agreed to extend his stay in Madrid until 2027.

“I will continue in the biggest club in the world, Real Madrid”, Vinicius told Sportv, per journalist Fabrizio Romano.

Romano revealed earlier this week that the deal will be announced in July and that the release clause will be set at €1bn.

It's been claimed that Vinicius actually rejected a mammoth offer from Paris Saint-Germain to stay at Real.

Marca have reported that PSG have been in constant communication with Vinicius since December 2021. They were prepared to pay him a salary of €40m-per-year, which equates to €770,000-per-week.

That's 12x higher than his current salary at Los Blancos. It would have made him one of the highest-paid players in world football.

Soccer Football - Champions League - Group A - Manchester City v Paris St Germain - Etihad Stadium, Manchester, Britain - November 24, 2021 Paris St Germain's Lionel Messi, Kylian Mbappe and Neymar looks dejected after Manchester City's Raheem Sterling scored their first goal Action images via Reuters/Carl Recine

The French giants also offered him a generous sign-on bonus, as well as a number of commercial opportunities in Qatar, during their talks.

But Vinicius was not swayed and has agreed to stay in Spain, despite Real's offer being much lower than PSG's.

In fact, PSG's offer was 4x greater than the one he has agreed with Real.

It's reported that Vinicius' new deal at Real is worth €10m-per-year, which is just under €200k-per-week.

PARIS, FRANCE - MAY 28: Vinicius Junior of Real Madrid celebrates with the UEFA Champions League trophy after their sides victory during the UEFA Champions League final match between Liverpool FC and Real Madrid at Stade de France on May 28, 2022 in Paris, France. (Photo by Julian Finney/Getty Images)

That's still a great amount of money but Vinicius deserves respect for resisting the temptation to earn a lot more and choosing to play where he'll be happiest.

Marca also report that Vinicius was wanted by a number of English clubs, including Liverpool and Manchester United.

But Vinicius had no intention of moving to the Premier League at this time.

Vinicius, now 21, is coming off the best campaign of his professional career. He scored 22 times in 52 games for Real, including the winner in the Champions League final.

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