Everton have agreed the terms of a deal worth £19.4million in total for Mason Holgate, Football Insider understands.
The Merseysiders announced on Tuesday that the defender has put pen to paper on a five-year deal that ties him to Goodison Park until June 2025.
A Everton source has told Football Insider that Holgate has signed a £70,000-a-week deal plus top-up bonuses.
The deal more than doubles the pay of the 23-year-old and is worth £19.4million across five years and three months.
It is a huge statement of faith in the former Barnsley player, who started this season on the fringes at Everton after spending last term on loan at West Brom.
Holgate has ignited his career in recent months with a series of stellar performances in the heart of the defence after usurping Michael Keane as a regular starter.
With his previous contract due to expire in two years, Everton moved to tie him down to an extension and fend off interest from Man City as well as Newcastle United, Bournemouth and Crystal Palace.
Everton were clear they did not want to lose Holgate, or a repeat of the John Stones situation of 2016 when they were forced to sell him to City for £47.5m.
Holgate began this campaign on the bench, with Yerry Mina and Keane the first choice partnership in central defence.
But he’s now started 17 of Everton’s last 18 Premier League matches and is in contention to make the England Euro 2020 squad.