Real Madrid have renewed the contract of 20-year-old forward Peter Federico until the summer of 2025 according to Marca.
His previous contract ran until the summer of 2024 and while his release clause from that deal, €50m, has stayed the same, he has earned a considerable pay-rise to make him a leader with Castilla.
Madrid have taken the decision to offer the youngster this pay-rise in the face of serious interest from rival suitors – in Spain, clubs like Getafe, Celta, Osasuna and Espanyol all asked about his situation while Dutch side Feyenoord were also in the mix.
Should Peter fulfil his contract and stay in the Spanish capital, it will mean that he’s spent an entire decade at the club having joined La Fabrica back in 2015. Two of the highlights of his time at the club so far have been winning the Youth League with Raul back in 2020 and making his first team debut at San Mames.