Coveted by FC Barcelona and Manchester City, Thiago Silva has agreed to extend his contract with Paris Saint-Germain until 2018, French sports daily L'Equipe said Monday.

PSG, the reigning Ligue 1 champion, gave the 28-year-old Brazilian a raise that will bring his annual salary to 12 million euros ($15.9 million), the newspaper said.

The deal was closed on Saturday, according to L'Equipe, which said PSG also persuaded Italian defender Marco Veratti to extend his contract until June 2018.

Veratti won a pay increase of more than 200 percent, from 850,000 euros to 2 million euros a year, the daily said.

PSG's Qatari owners are still negotiating with the team's top scorer, Zlatan Ibrahimovic, who could see his salary boosted from 14 million euros a year to as much as 16 million euros, L'Equipe said. EFE