Marco Asensio is set to renew his contract with Real Madrid

Marco Asensio is set to sign a new Real Madrid contract, reports The Athletic.

The Spain international’s deal expires this summer. However, talks about an extension started in January and a proposal is already on the table.

Asensio has been a key player under Los Blancos manager Carlo Ancelotti this term.

The Italian has told Madrid he wants the 27-year-old to remain at the Santiago Bernabeu beyond this season.

Both parties have been unable to reach an agreement on the length and terms of the deal.

Asensio is expected to sign a four-year or five-year contract. Increased wages are also expected, but a deal has not been agreed.

Madrid want players to fully concentrate on the tasks ahead having reached a crucial stage of the campaign.

They are 13 points behind Barcelona in La Liga with ten games left but still believe they can overhaul their rivals.

They are also in the quarter-finals of the Champions League and have reached the final of the Copa del Rey.

Asensio has bagged eight goals and five assists in 30 games across La Liga and the Champions League.

He has not been a regular starter but has been an important player since joining Madrid in 2016.

Several Premier League and Serie A clubs have been keeping tabs on his situation.

They will be hopeful of signing him for free in the summer, but he wants to remain with Madrid.

He deserves a new deal despite struggling to displace the starting attackers.

An agreement is expected to be reached between both parties, and his suitors will have to look elsewhere.