"Real Madrid has not yet announced the extension of Vinicius' contract due to Perez's illness

Real Madrid is planning to announce the extension of Vinicius Junior's contract in the near future, according to football insider Fabrizio Romano.

Vinicius Junior, Getty Images

According to the source, the "royal club" planned to hold a solemn event on this occasion last week, but due to Florentino Perez's illness, the club postponed the procession.

Earlier, the media reported that the amount of compensation for Vinicius under the new agreement should be €1 billion.