Atletico Madrid are ready to make Radamel Falcao the highest paid player in the club's history in a desperate attempt to stop him leaving for Chelsea or Real Madrid.
The European champions and Jose Mourinho's Spanish giants are both ready to spend big to land the free-scoring striker, who has hit 16 goals in just 14 La Liga outings this term.
Falcao has been diplomatic when asked about his future, insisting he is happy at Atletico, but that has not stopped constant speculation about his future.
The 26-year-old has over three years left on his current deal but, according to reports in Spain, Atletico are now lining up a significant payrise.
It has been suggested that they will offer Falcao 15m euros a year, which is much more than former favourites Fernando Torres or Sergio Aguero ever earned with the club.
But they will only be able to afford such massive wages if Atletico can maintain their current form and qualify for the Champions League.
Diego Simeone's side are currently second in the table, six points behind leaders Barcelona, and will be able to afford Falcao's massive wages if they receive the cash windfall guaranteed by European qualification.