Bayern Munich chief executive Karl-Heinz Rummenigge has expressed his eagerness to renew Robert Lewandowski's contract, but warned that the club will not pay "crazy" wages.

The 27-year-old striker joined the Bavarian giants on a free transfer from Borussia Dortmund in 2014, when he signed a contract until 2019.

Last season, the Poland captain scored 42 goals in 51 games in all competitions for Bayern, and reports in March said that he was set to renew his deal with the German champions until 2021.

Rummenigge told German newspaper Bild: "We have had several talks with his agents. We're ready to extend [his contract]. We certainly won't sell him. We are always ready to extend contracts prematurely and adjust their conditions to the present situation and market value."

However, the Bayern CEO added: "We won't be able to pay wages similar to those at Manchester City or Paris Saint-Germain. We are paying very good salaries, but these clubs pay crazy wages in some cases."

Lewandowski is said to be on the radar of Real Madrid.