Barcelona are reportedly set to increase Neymar's present buyout clause to a whopping €250millionReuters

Amid rumours and widespread reports of interest for Brazil international Neymar from English Premier League giants Manchester United, Spanish side Barcelona have decided to provide the forward a fresh five-year contract at the Camp Nou.

Not only that, the Daily Mail has also reported that, apart from giving a new contract before the end of the year, the ex-Santos player will be given a substantial increase in his wages at Barcelona and his buyout clause at the club will also be raised to €250million (£182m).

This is the same as the buyout clause of Argentina hotshot Lionel Messi at the Camp Nou.

Neymar's current contract at the club runs until 2018, and Barca are willing to extending his stay with the Catalan giants until at least 2021, with his present net salary being €8.8m (£6.4m) per season.

Reports have spread like wildfire both from the British press as well as the Brazilian press that the Red Devils are willing to break the bank to land Neymar before the transfer window shuts on Tuesday.

It is believed that United are willing to offer a total of £240m to acquire the signature of the star forward.

The Old Trafford side are also interested in making the player the global face of the club.

The Daily Mail report goes on to say that Barcelona will sit with Neymar's advisors before the end of the calendar year to discuss the contract negotiations, and it is believed that the contract extension for the player was planned by club president Josep Bartomeu at the end of last season.

The player is currently recovering from mumps, and is not expected to play for Barcelona in Saturday's home game against Malaga. He also missed the opening La Liga encounter for Luis Enrique's side against Athletic Bilbao last weekend.

Neymar joined Barcelona from Brazilian outfit Santos in the summer of 2013, and since then he has gone on to score 54 times from a total of 92 games for the club. His major honours at Barcelona include a Spanish league title, a UEFA Champions League title, a Copa del Rey, as well a Spanish Super Cup title.

The player moving out to Manchester at the moment doesn't really seem to be realistic as his family are well settled in Catalonia. Neymar's wife Carlos Dantas as well as their four-year-old son Davi Lucca are in Barcelona presently, with Lucca believed to have been admitted to one of the schools nearby.