Xabi Alonso has reportedly told Real Madrid that he will sign a new two-year contract if he receives a signing-on fee in the region of £8m.
The 32-year-old's current contract expires at the end of the season, with a number of European clubs, including his former team Real Sociedad, monitoring developments in the Spanish capital.
According to SportYou, Alonso is prepared to sign a new deal, but would require a bonus in the region of £8m to put pen to paper.
As it stands, the Spanish international will be free to discuss terms with interested clubs in January.
