[PHOTO: COURTESY]

Liverpool forward Philippe Coutinho has signed a new five-year contract worth about £150,000 a week, making him the highest-paid player at the club.

The 24-year old Brazil international joined the Reds from Inter Milan for £8.5m in January 2013, and his new deal will take him through to 2022. Coutinho has scored 34 goals in 163 appearances for Liverpool.

“It is a club that I am very grateful to and this shows my happiness here,” he told the club’s website. There is no release clause in Coutinho’s new contract, the terms of which come into effect from July 1.