Real Madrid close to agreement over new Pepe deal

Real Madrid are close to securing defender Pepe to a new, improved contract.

Real GM Jorge Valdano has met with Pepe's agent, Jorge Mendes, several times recently and they're close to agreeing terms.

Pepe will see his £1 million salary enjoy a hefty hike and his deal extended from 2012 to 2014 or 2015.