Liverpool are set to reward James Milner and Joel Matip with new contracts.

The two players have been key members of the team that came within an inch of the Premier League title and will play in the UEFA Champions League final on Saturday.

Per The Telegraph, the Reds are set to offer 33-year-old Milner an extension, with his age not deemed an issue given his superb physical fitness.

Matip is one who could leave on a cut price fee this summer, as he only has a year left on his deal.

But it appears Liverpool boss Jurgen Klopp would like to see him in the squad for the foreseeable future.

Both players are expected to put pen to paper on new contracts if they are offered reasonable terms.