Sergio Ramos has yet to agree to a new deal with Real Madrid, with the club reluctant offer such a lucrative deal given the strain their finances have been put under due to the coronavirus pandemic.
The Spain international is currently free to talk to other clubs with his contract at the Santiago Bernabeu set to expire in the summer, though both parties are keen to come to an agreement which would see Ramos remain in the capital.
However, AS report that Los Blancos aren't in a position to offer their captain the sort of deal he may have been expecting - something which appears to be a stumbling block in negotiations - with the club estimating that they'll endure a €300m (£266m) shortfall this year due to the knock-on effect of the pandemic.
Madrid hope that Ramos - and any other players looking to renew their deal at the club - will understand the situation they find themselves in, offering the assurance that once their economic struggles have subsided they will then be in a position to offer better deals.
While Los Blancos hope the world class defender will set an example to the rest of the squad by signing a new contract, it remains to be seen whether Ramos will look elsewhere. At nearly 35 years of age, this is likely to be the last big contract of the Spaniard's career, and that may force his hand in terms of moving away from the club he's represented since 2005.
90min reported back in November that all of the Premier League's big six had expressed an interest in Ramos, should he officially choose to leave Madrid.
Ramos' current deal is understood to be worth in the region of €13m-per-year (£11.5m), and if an agreement can't be reached then Real Madrid may be forced to seek a replacement for their captain.
Bayern Munich's David Alaba has been mooted as a potential replacement for Ramos, with the Austrian himself free to talk to other clubs due to being in the final six months of his deal at the Allianz Arena.
It is said that Los Blancos have made a concrete offer for the 28-year-old and hope to wrap up a pre-contract deal this month regardless of Ramos' situation.