Mohamed Salah is reportedly in line for a new contract worth £185,000 a week following his record-breaking first campaign at Liverpool.
The Egyptian forward's goalscoring form, which has seen him net 43 goals since joining from Roma last summer, is said to have put Real Madrid on alert.
Los Blancos' rumoured interest has left Liverpool fearful that they could lose their main man after just one year but, according to The Sun, Reds chiefs are ready to negotiate fresh terms.
Salah currently earns £90,000 a week at Anfield, leaving him outside of the club's top earners, and the Merseyside outfit are prepared to rectify that before the summer transfer window opens.
The same report indicates that Liverpool could get four times the £34.3m sum paid to Roma in June, but they will not cash in at any price after already losing Philippe Coutinho to Barcelona at the turn of the year.
Only legendary striker Ian Rush in 1983-84 (47) has scored more goals in a single campaign for Liverpool than Salah's 43, with a maximum of four games left to play this term.