Manchester City are ready to hand a new contract to Erling Haaland.

Haaland's ability as a goalscoring machine has attracted interest from Real Madrid, who are thought to be keen on nabbing the player in the summer of 2024.

But The Sun reports that bosses at the north-west England club will sit down with Haaland at the end of this season to thrash out a new deal, which will see Haaland become the best-paid player in the Premier League, with an income of £500,000-a-week.

The 22-year-old's current deal lasts until 2027, but Man City will extend that by a year as part of the proposals to maintain Haaland's services despite Real Madrid's interest.

Haaland currently earns £375,000 each week, putting him equal at the top of the Premier League's best-paid stars, along with teammate Kevin De Bruyne and Man United shotstopper David de Gea.

Sources close to the Norwegian striker believe Man City want to make Haaland the first to get half a million pounds each week to send a clear 'hands off' message to possible buyers.