Manchester City is actively pursuing the extension of Erling Haaland's contract with the intention of eliminating the release clause and minimising the chances of Real Madrid or Barcelona luring him away, as reported by Gazzetta dello Sport.

According to sources from ESPN, City has been exploring the possibility of extending Haaland's contract and aims to finalise an agreement within the next few months.

Currently, the 23-year-old's contract is set to run until 2027, but it contains a €200 million release clause that diminishes annually over the contract's duration.

In light of this, Manchester City is prepared to offer Haaland an increase in his salary, extend the contract by an additional year, and remove the release clause altogether.

Real Madrid and Barcelona are closely monitoring developments regarding Haaland's contract, as both clubs are aware of the release clause.

Real Madrid, in particular, has been in search of a high-profile striker since the departure of Karim Benzema to Al Ittihad.

If Real Madrid fails to secure the services of Kylian Mbappé from Paris Saint-Germain on a free transfer next summer, the club's president, Florentino Perez, is expected to channel his efforts towards signing Erling Haaland.