Dosh and Becks: 300 per cent pay rise for captain

After watching their London rivals win the two most coveted domestic trophies, Manchester United simply could not bear to let Arsenal steal all the headlines. Enter David Beckham, the captain of England and the most recognisable face in the country, to sign a new three-year contract with the deposed champions. Not quite what he had in mind, but a prize of sorts for Sir Alex Ferguson.

The deal, which will keep the 27-year-old Beckham at Old Trafford until the end of June 2005 (with the option of a further year's extension), is reportedly worth £90,000 a week and represents a 300 per cent rise. Not bad money for a man who is currently hobbling around, after having broken a bone in his left foot. "I am absolutely delighted," he said before being paraded at Old Trafford at yesterday's League match against Charlton Athletic. "The club have bent over backwards to be fair in their dealings and I always knew that United were the only club I ever wanted to play for."

By putting pen to paper on the biggest contract in the history of English football, Beckham has eased the fears of the United board and fans. It also means that the guests at his pre-World Cup bash today are guaranteed the best bubbly.

United's offer had been on the table for some time, but Beckham – well, his agents and lawyers – were combing the small print to avoid any future problems. The major sticking point had been Beckham's image rights, for which the player was demanding an estimated £20,000 extra a week, on top of his flat salary of £70,000. Roy Keane, the club captain, is said to have a clause in his own contract stipulating that he must be the highest wage-earner in the senior team. That remains the case, although he will receive less than Beckham once the latter's image rights have been added.

Beckham had always maintained his intention to stay at the club that moulded him into a world star. "I've daydreamed on occasions about what it would be like to play in Italy or Spain," he said. "The football challenge would appeal, but I have weighed all that against what I would be leaving behind, and the upheaval involved for my family."

The United chief executive, Peter Kenyon, expressed relief at the deal being signed and delivered, revealing that the image-rights issue had complicated discussions. "It has taken us a long time for us to reach an agreement on this new deal. The process of every player's contract negotiation is different, and one of the unique aspects of David's was understanding how his global image could best be utilised to the mutual benefit of United and David himself. We believe we have agreed a contract that does just that."

Beckham has been granted permission by Sir Alex to leave for Dubai with the official England party tomorrow afternoon. "I believe I am approaching my peak, so it's vital for me to have consistency and continuity," Beckham added.