Real Madrid have agreed a deal to keep Karim Benzema at the Bernabeu until the summer of 2021.
Benzema, who has scored more than 170 goals for the Spanish champions since joining from Lyon in 2009, will sign a new contract worth a reported €7.5million a year.
According to reports in Spain, his net salary has been increased to more than €7.5 million a year and that the new arrangement includes a release clause of €1 billion.
His current contract had been due to expire in 2019 but Benzema will follow in the footsteps of Isco and Dani Carvajal in committing to an extended stay.
In a statement released by Madrid on Wednesday, the club revealed that the Frenchman will be paraded in front of the media at a press conference on Thursday afternoon.
The 29-year-old, who has won 14 trophies during his time with Real, will now remain with Los Blancos beyond his 33rd birthday.
Earlier this week, Benzema spoke of his intention to stay at the Bernabeu.
He told BeIn Sports France: ‘I am proud play for the best club in the world. Expectations are always high and we always need to work hard to keep up to the highest levels.
‘I’m a team leader, I have no reason to think about leaving. We are at one of the highest moments in Real Madrid’s history: the team is strong.’
The challenge for Real Madrid is how to move away from the aging BBC and get younger up front. Benzema is 29, Ronaldo is 32 and Bale is 28. Real have a lot of money invested in this front three and their presence has caused Álvaro Morata to move to Chelsea and Kylian Mbappé to move to PSG this summer.
If Madrid is not careful they will end up with an aging front-three that they have to replace all at once, which in today’s hyper-inflated transfer market will be massively expensive, even for a club like Real Madrid.