David De Gea (28) agreed with Manchester United about the contract extension, the Telegraph reported.
According to the newspaper, Spain will sign a six-year, $ 1.25 billion contract.
The agreement will make De Gea the best salary guard in the world, with an annual salary of nearly NOK 210 million.
Only a failed purchase Alexis Sanchez is better paid at Manchester United. He will have an annual salary of close to NOK 280 million.
De Gea will sign their new contract, which will give him more than four million dollars every week, once Manchester United returns from their tour in Asia.
Contract extension means that De Gea will be 34 years old if he stays at United outside the contract period. The goalkeeper has been playing for the Red Devils since 2011, so he has spent eight years in Manchester.
Earlier this week, Solskjaer stated that he was optimistic he would get De Gea's signature.
– Hopefully we can agree with David about a new agreement. But it's up to David and the club to announce if that happens, the Christian said.
The Spanish goalkeeper contract expires next summer and he can join new clubs in January if he disagrees with Manchester United.
According to the Telegraph, De Gea has been thinking long and hard about the future, after last year's season, which was very disappointing for Manchester United.
The fact that the club are willing to make him the second highest paid player, and the support he received from Ole Gunnar Solskjaer and other members of the coaching team when he failed to form on the pitch this season, should help tilt the decision in the interest of United.