By Editor Wayne Veysey | 17 years experience of breaking major stories at Evening Standard, PA and Goal, including exclusives like this

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Tottenham have reached an agreement with Mauricio Pochettino on a new five-year contract worth a staggering £30million.

The Spurs manager announced on Friday afternoon that he will extend his stay with the club until 2021. Pochettino’s current £3.5million-a-year deal runs until 2019.

Football Insider revealed last month that Spurs want to make Pochettino the best-paid manager in the club’s history by nearly doubling his salary.

Source close to the Spurs boardroom have said the new deal will be worth £30million including performance-related bonuses, the equivalent to £6million-a-year.

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The Argentine, who has overseen the dramatic rise of a young squad in his two years at the helm, has explained why he has decided to further commit to the north Londoners.

“It was an easy decision when you feel the love of the people and the potential of the club is massive, so why change?” Pochettino said on Friday, as quoted by the BBC.

“We create a good atmosphere on the training ground and I think we can achieve big things in the future. I believe in this project and this club. I want to stay here.”

Pochettino, 44, joined Tottenham in May 2014 after leaving Southampton and has continued to enhance his reputation as one of the hottest properties in the managerial market.

Chairman Daniel Levy is keen to reward Pochettino for guiding the club to second place on what has been a shoestring budget since his arrival.

Curiously, the accolade of Spurs’ best-ever paid manager had previously belonged to Spaniard Juande Ramos, who earned £6million-a-year during his short spell as club boss, although he was not on a five-year contract.

Tottenham hopes of winning their first league title in 55 years were substantially reduced on Monday when a 1-1 draw against West Brom left them seven points behind leaders Leicester with three matches of the season remaining.

Nevertheless, they are almost certain to clinch a top-four spot that guarantees qualification for next season’s Champions League.

In other Tottenham news, Levy has emerged as the best-paid executive in the Premier League.