After signing a new contract, "Real" defender Pepe will earn 4 million euros per year © EuroFootball.com

Portugal's national team defender Pepe has agreed to extend his contract with the Madrid club until the summer of 2016, reports "Marca".

The negotiations for the new contract for the center-back took some time, but finally an agreement was reached.

Pepe's current contract was set to expire in June of next year. Now the footballer, who did not hide his dissatisfaction with his wages, will earn significantly more - 4 million euros per year.

"Real" has not officially confirmed this news yet, but did not deny that the negotiations are approaching a conclusion.