Vinicius extends Real Madrid deal until 2027

Brazilian forward Vinicius Junior has signed a new contract with Real Madrid that runs until 2027, the Spanish club announced on Tuesday.

"Real Madrid and Vini Jr. have reached an agreement to extend the player's contract, linking him to the club until 30 June 2027," the club said in a statement.

Vinicius, 23, joined Madrid in 2018 from Brazilian club Flamengo and has developed into one of La Liga's standout players, scoring the winning goal in last year's Champions League final against Liverpool.

His existing contract was due to expire at the end of this season. Local media reported an extension had already been agreed last year, but it was only made official on Tuesday.

The club provided no financial details, but Spanish media reported the arrangement includes a one-billion euro ($1.06 billion) release clause -- identical to those inserted into the contract of several Barcelona youngsters.

Vinicius finished sixth Monday in this year's Ballon d'Or voting and also received the Socrates award, named after the Brazil icon, in recognition of his humanitarian work.