Salah's current Liverpool deal is set to expire in the summer of 2023, with talks over the last few months failing to produce a successful outcome.
Now Aldridge has told Tennis365 that Liverpool cannot allow Salah to get to this summer and enter the final year of his contract without making a decisive decision on his future.
"I'd be very surprised if they let it run that long (until the summer)," said Aldo. "I thought it would be done in January, but for some reason it's not.
"If if gets down to 12 months, it becomes a poker game. You look at Pogba and how much Manchester United are going to lose with him... I hope Klopp knows something we don't know.
"We don't want this to go on. We have to get this sorted. I'd imagine this will be a four year contract and the way the man is, at the age of 34, he would still be excellent.
"You look at Cristiano Ronaldo at his age now (36) and while he might not be as good as he was, he is still very good. The same with Messi.
"It is going to be expensive, but Liverpool is a huge club. You have got to show your teeth. We don't have what other clubs have behind them financially and we should be able to do a lot of damage in the transfer market."
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