Portuguese centre-back Pepe is reportedly desperate to sign a new contract at Real Madrid, but wants to be offered more than a 12-month extension by the Spanish giants.
The 33-year-old, who remains a key figure at the Bernabeu, is approaching the final six months of his deal at Real Madrid and will be free to discuss terms with foreign clubs in the January transfer window.
Last month, the defender revealed that he wanted to "retire" at the Spanish club, but according to AS, he wants a two-year deal rather than the one-year offer which is currently on the table.
Pepe, who moved to the Bernabeu from Porto in 2007, has made 320 appearances in all competitions for Real Madrid, winning two Champions League titles and two La Liga crowns in the process.
A number of Chinese Super League clubs are believed to be interested in the experienced centre-back.
