The highly rated Everton midfielder Jack Rodwell will today sign a new five-year contract at Goodison Park to scupper any lingering hopes Manchester United and Arsenal retained of securing the talented teenager this summer.

The 19-year-old, an England Under-21 international, played 36 times for David Moyes' side last season having progressed through the youth ranks at the club. Negotiations over the new deal have been protracted and the contract is worth around £30,000 a week, reflecting his value in the squad, with Rodwell following Tim Cahill and the young full-back Seamus Coleman, on loan at Blackpool, in extending their stays on Merseyside.

United had hoped to lure Rodwell away from Everton as they did the 18-year-old Wayne Rooney back in 2004, with Arsène Wenger also a keen admirer of a player comfortable both in central defence and midfield, but Moyes has managed to persuade the teenager that he will benefit more from regular first-team football at the club. He has already played more than 50 games for Everton and scored his first senior goal as a 17-year-old, and his manager has compared his development to that of the new England captain, Rio Ferdinand.

"He's so comfortable on the ball," said Moyes. "He is best in central midfield at the moment but, by the time he's 23 or 24, he may be a top centre-half. Rio started in central midfield and eventually moved back. Jack has similar qualities."

The Everton manager will be reassured at retaining a player around whom this club can shape its future. Everton are expected to open contract talks with Leighton Baines, most likely after the World Cup should the left-back be retained in Fabio Capello's squad for the finals, and are confident of warding off interest from rivals in their Spanish midfielder, Mikel Arteta.