Bayern Munich have reportedly scheduled fresh contract talks for Real Madrid target Alphonso Davies.
The left-back has less than 18 months left on his Bayern contract, and there has been little success in contract negotiations between the two parties.
As a result, Davies's future has become the subject of much speculation, with Real Madrid emerging as the frontrunners to secure his signature.
There was a suggestion that Davies had already reached a verbal agreement to complete a move to the Spanish capital in the summer or in 2025.
Davies's agent Nedal Househ has since stated that there is currently no agreement in place with Real Madrid or any other interested club.
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According to journalist Florian Plettenburg, Bayern are now set to make a fresh attempt at tying the Canadian down to a new contract.
The report claims the Bavarians are preparing to offer a new deal worth €11m (£9.4m) to €13m (£11.1m) a year which would see the defender extend his stay until the summer of 2029.
Bayern's fresh proposal is said to fall short of Davies's financial demands, with the player believed to be holding out for up to €20m (£17.1m) a year.
If the two parties fail to make progress in the next week, Bayern will start drawing up plans for a possible sale ahead of the 2024-25 season.
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With Davies's contract set to expire in June 2025, the Bavarians view the upcoming transfer window as the last real chance to command a sizable fee for the Canada international.
Despite the uncertainty surrounding his future, the 23-year-old has still played regularly for Thomas Tuchel's side this season, featuring in 30 matches across all competitions.
However, Davies has had to settle for three consecutive substitute appearances since returning from a four-game injury absence.
The full-back will hope to return to the starting lineup for Saturday's Bundesliga away match against basement side Darmstadt.
