Erling Braut Haaland 'has £128m release clause in Manchester City contract'

Erling Braut Haaland will reportedly have a £128m release clause inserted into his Manchester City contract.

The Citizens announced on Wednesday that they have reached an agreement in principle to sign the 21-year-old striker from Borussia Dortmund this summer.

Haaland is set to move to the Etihad Stadium on July 1 after City activated the €60m (£51.4m) release clause in his Dortmund contract.

The Norwegian's new contract at City is set to see him earn around £375,000 per week, matching the club's highest earner Kevin De Bruyne, and according to Bild, the striker will also have a £128m release clause which will become active in 2024.

The report adds that Haaland's former agent Mino Raiola agreed the release clause with City before passing away at the end of last month.

Real Madrid and Barcelona were both linked with a move to sign Haaland before the striker decided to join City, and the La Liga giants could renew their interest in the future when his release clause becomes active.

Pep Guardiola recently told reporters that he is "excited" to work with Haaland next season and believes that the striker will "adapt perfectly" in his system.