Liverpool midfielder Philippe Coutinho has committed his future to the club by signing a new long-term deal, it has been announced.

The new contract - thought to last for five years - comes into effect on July 1 and will see him earn roughly £150,000 a week.

According to reports, the deal does not include a release clause, allowing the Reds the option to reject any future bids for the Brazilian, who has been linked with Barcelona in recent months.

"I would like to thank everybody at the club, first of all," the 24-year-old told the club's website. "I am very happy to sign a new contract here. It is a club that I am very grateful to and this shows my happiness here. I will work much harder to repay the belief shown in me.

"I signed this new contract to stay here for a few more years because it's a great honour for me. It gives me great happiness because I was welcomed here with open arms by everyone at the club and the supporters right from my first day. I am very thankful to this football club for everything."

Coutinho moved to Liverpool from Inter Milan in January 2013 and has since gone on to make 162 appearances in all competitions.