Bayern Munich director Max Eberl has confirmed that an offer of a new contract has been tabled for Real Madrid-linked left-back Alphonso Davies.
The Canada international can walk out of the Allianz Arena for nothing at the end of the 2024-25 campaign as things stand, and discussions over an extension are yet to yield a positive solution.
It has already been reported that Real Madrid have struck a verbal agreement to sign Davies either this summer or on a free transfer in 2025 - claims that his agent has denied - but Bayern will be due a nominal fee if Los Blancos opt for the former option.
The German champions have been attempting to tie the 23-year-old down to fresh terms, but they are expected to entertain bids in the summer window if his wage demands continue to prove too excessive.
Speaking to German outlet Bild - as quoted by Fabrizio Romano - Bayern chief Eberl confirmed that a "concrete" and "appreciative" offer had been sent to Davies's camp, but he denied claims that they were already in talks with Real Madrid.
"We sent Alphonso a very concrete, appreciative offer. At some point in life you have to say yes or no. Real Madrid hasn't contacted us," Eberl said.
A separate update from journalist Florian Plettenburg claims that Bayern have offered Davies a four-year extension on his current deal to keep him around until 2029, just before his 29th birthday.
Davies could supposedly pocket between €11m (£9.4m) and €13m (£11.2m) a year including add-ons, but the defender has been holding out for an annual salary of €20m (£17.2m) to sign on the dotted line.
With Bayern giving no indication that they will improve their offer, Davies must seemingly either accept the Bavarians' latest proposal or be sold in the summer, five-and-a-half years after arriving from Vancouver Whitecaps.
The German champions forked out €14m (£12m) to bring Davies to Munich midway through the 2018-19 season, and the defender boasts nine goals and 28 assists in 184 matches for Bayern in all competitions.
The Canada international boasts 13 major titles from his time in Munich, including five Bundesliga crowns and one Champions League, and he has one goal and three assists to show from 31 games this season.
As Bayern are refusing to give up hope of keeping Davies around, Real Madrid have reportedly put their efforts to bring him to the Bernabeu on hold, although the 23-year-old still favours a move to the Spanish capital over Manchester City or Chelsea.
As well as seeking out a new left-back, Real Madrid are also believed to be eyeing a long-term successor to Dani Carvajal on the right-hand side of the backline and are said to be monitoring Trent Alexander-Arnold's contract situation at Liverpool.
The Englishman's current terms also expire in 2025, and he is not thought to be in any renewal talks with the Reds at this moment in time, although Liverpool still have no intention of selling their vice-captain.
