Rakitic has scored 8 goals and gave 8 assist in 16 La Liga games this season. [Reuters]

Sevilla playmaker Ivan Rakitic will sign a new deal with the Spanish side to reduce his £33m release clause ahead of being sold next summer – with Manchester United facing competition from Liverpool and Chelsea to secure his services.

The 25-year-old midfielder is Sevilla's most valuable player this season. He has stepped into the shoes of Jesus Navas and Alvaro Negredo, scoring eight goals and grabbing eight assists in just 16 league appearances.

Although Rakitic has offers to leave Sevilla during january, Spanish newspaper Estadio Deportivo report that the player will sign a new deal to stay in La Liga until the end of the season and then be sold next summer.

In exchange, Sevilla will agree a significant pay rise with the player until the end of the season and at the same time they will reduce his £33m release club to puish him closer to the exit door next summer.

The Croatian claimed recently that he loves Sevilla but the Andalucia-based club assume that he will make a step forward sooner than later and the new deal allows them to keep him in January and recoup some money in the summer.

Indeed, Sevilla president Pepe Castro recently admitted that he would not block his sale if someone were to meet his £33m release clause.

"If anyone else is in a rush to have Rakitic, his clause is €40m and we'll leave it at that," Castro said.

United manager David Moyes sees Rakitic as the perfect playmaker for his midfield while Liverpool and Chelsea are also monitoring the situation.