Erling Haaland has signed a new nine-and-a-half-year contract to keep him at Manchester City until the summer of 2034.
The new deal is an uplift on Haaland's previous contract which Sky Sports News understands was in the region of £400,000 per week, making him the club's highest earner.
It is also understood the contract has no release clauses in it, which means any previous ones have been removed.
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Haaland's previous contract was due to expire in the summer of 2027 but he has now put pen to paper on one of football's longest-ever deals that will see him turn 34 years old by the time it ends.
The 24-year-old had been linked with a move to Real Madrid, having scored 111 goals in 126 games since joining City in June 2022 from Borussia Dortmund.
City, sixth in the Premier League, are rebuilding this month with defenders Abdukodir Khusanov and Vitor Reis from Lens and Palmeiras respectively close to signing, while a deal has been agreed for Eintracht Frankfurt striker Omar Marmoush.
Haaland's new contract comes as City await the outcome of their disciplinary case brought by the Premier League in which they denied the 115 charges levelled against them.
'I am City no matter what'
Reflecting on his new deal, Haaland, said: "I am really happy to have signed my new contract and to be able to look forward to spending even more time at this great club.
"Manchester City is a special club, full of fantastic people with amazing supporters and it's the type of environment that helps bring the best out of everybody.
"I also want to thank Pep [Guardiola], his coaching staff, my team-mates and everyone at the club as they have all helped me so much in the past couple of years. They have made this such a special place to be and now I am City no matter what.
"I want to keep developing, keep working to get better and look to do my best to try and help us achieve more success going forward."
Haaland also spoke about working with Guardiola, who he described as "the most hard-working person I've ever seen".
"It's a great thing to speak with him, and to train and to play under him every single day; to get his input on me and how to become a better footballer and to develop even more, because he is the best.
"It's so nice to work with him, not only because he's the best, but he's also the most hard-working person I've ever seen. The amount of hours he puts down is motivating and it's also inspiring.
"It's hard, it's tough, because he demands a lot, but that's what I want. I want people to demand a lot from me and to put pressure on me."
Haaland scored 10 goals in the first five Premier League games of this season, including back-to-back hat-tricks, but has bagged only six more in the 16 league matches since. He sits second behind Mo Salah, who has 18 goals, in the top-scorers chart.
Haaland has lifted two Premier League titles, the Champions League, an FA Cup and a Super Cup in his two-and-a-half seasons with Manchester City.
City signed Haaland on a five-year contract for £51m by paying his release clause in a deal that was expected to rise to £85.5m in total when agent fees, signing bonus and other costs were taken into account.
He scored 86 goals in 89 matches for Dortmund after joining from RB Salzburg in January 2020.
Pep: Erling can improve - he won't nap now!
Man City boss Pep Guardiola:
"If he continues with the numbers then yes [he can smash all records], but it depends on the team and who arrives. It's exceptional news for the club and the length shows how desperate he is to be here.
"Of course, he can improve. But that doesn't depend on the contract. His desire and his commitment is how he can improve. It's the trust of the club to Erling as we don't know what will happen in the next few years but it shows his commitment. In 10 years, we don't know what's going to happen as it's a long, long time. He has proved what he wanted and has shown his trust in the club.
"He can still improve on many things and it's about setting up the conditions where he is unstoppable. He can understand the game better in general, what decisions to make at moments but he is still young. With time and maturity of playing more games, it's going to happen naturally.
"His motivation is scoring goals, simple. But I don't get the feeling that now he has the contract he is going to take a nap. He is a huge competitor and his mindset is really good to forget what has happened, the good and the bad and thinking of the next.
"He came from Norway, and maybe the weather is better here to where he was born! He settled perfectly. He loves the club, the people he is around, the Premier League, his wife and his father are here. He realised there is no better place to be right now than here and this is why he and his family have decided to make this step."
Deal follows 'months' of negotiations
Sky Sports News reporter Ben Ransom:
"It's absolutely titanic. What a signing for Manchester City. What a moment to put this news out as well.
"They are calling it a 10-year contract because we're in year one. It's unprecedented in terms of the length of contract that Manchester City have given to a player.
"In terms of a player to give it to, who better than Erling Haaland? A man who has already achieved so much in his two and a half years here and scored so many goals.
"You can only begin to dream where his tally might end up if he stays right through to 2034, when he will be 34.
"He is obviously a player that loves Manchester City. He is someone who was born into a family that had a real affiliation with City through his Dad, Alfie Haaland.
"From City's point of view, there's real delight that he has committed his future.
"This is a deal that has taken some time to put together. I'm told it's been months and months of negotiations between Txiki Begiristain, incoming director of football Hugo Viana, the Manchester City executives, and Haaland and his team.
"But there was always an appetite for him to extend his stay here. He is clearly absolutely loving life in Manchester City.
"There has always been a feeling externally that Haaland was here as a stepping stone to Real Madrid, but he has committed his future here.
"It just shows how much he is enjoying it. He's happy to be here, he's here to stay, and he's absolutely delighted."
Analysis: Haaland can shatter scoring records
Sky Sports' Nick Wright:
Erling Haaland's new contract is bad news for Manchester City's Premier League rivals. With 79 goals in 87 games since his arrival from Borussia Dortmund in 2022, plus another 32 in 39 appearances in other competitions, his scoring feats have been extraordinary.
His Premier League goal total is 24 higher than anyone else's in the same time period, with Mohamed Salah, on 55, the only other player to have even reached a half-century. Haaland is in a league of his own when it comes to the art of putting the ball in the net.
After only two and a half seasons, he is close to cracking the top 50 in the Premier League scoring charts. Carry on at his current rate and he will be level with Fernando Torres (85) before the end of next month. Ruud van Nistelrooy's total (95) will be matched by May.
The difference, of course, is that those two players, and indeed all of those above him, needed far longer to reach those kinds of numbers. Haaland has set new standards in the competition, averaging an unprecedented 0.99 goals per 90 minutes since his debut.
With nine and a half years on his new deal, and still to enter his prime at 24, he should have time to spare when it comes to reeling in the name at the very top of the pile. Alan Shearer's total of 260 goals came from 441 games. Haaland is unlikely to need that many.
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(c) Sky Sports 2025: Erling Haaland contract: Manchester City striker signs new nine-and-a-half-year deal until 2034