Real Madrid captain Sergio Ramos reportedly has until the end of March to take up a contract extension with the Spanish giants before it expires.
The Spain international's existing deal with Los Blancos is due to end at the end of June, meaning that he is currently free to discuss terms with foreign clubs.
Ramos is thought to want a fresh three-year agreement, but according to Marca, Madrid are only offering a one-year extension with the option of a second.
The report claims that the contract remains on the table, but the Spanish champions need to know whether they will have to sign a replacement this summer and have therefore given the 34-year-old until the end of the month to sign the deal.
Ramos has allegedly met with Madrid president Florentino Perez twice in recent weeks, and the club are still hopeful that the Spaniard will sign on the dotted line.
Manchester United and Paris Saint-Germain have both been credited with an interest in the defender, who has scored 100 goals in 668 appearances for his La Liga club since arriving from Sevilla.
