By Liverpool correspondent Cam Downes

Jordan Henderson has agreed the terms of a new five-year Liverpool contract – and is set to sign by the end of this week.

Football Insider sources have learned that the 24-year-old has committed to a deal that runs until 2020 and is worth around £110,000-a-week.

It is a huge boost to manager Brendan Rodgers as he plans ahead for next season and attempts to rebuild morale in the wake of Sunday’s FA Cup defeat to Aston Villa.

Henderson, who is likely to be handed the Liverpool captain’s armband when Steven Gerrard moves to LA Galaxy in the summer, has agreed a new contract following a season of talks with the club.

It lifts the former Sunderland man into the top tier of earners at Anfield alongside the likes of Gerrard, Daniel Sturridge, Philippe Coutinho and Glen Johnson.

Henderson has been one of Liverpool’s best players this season, contributing seven goals and 13 assists from midfield and filling in impressively on the right side of the defence on a number of occasions.

The Merseyside club also remain hopeful of securing Raheem Sterling on a long-term deal. Talks with the 20-year-old will resume at the end of the season.