Manchester City is reportedly in discussions to negotiate a new contract with Erling Haaland, a development that may disappoint Real Madrid's future transfer plans.

The Spanish giants have long been linked with the highly prolific Norwegian striker but failed to secure an agreement with Borussia Dortmund in previous transfer windows.

Consequently, Haaland made a move to England in the summer of 2022 as part of a £51 million ($62 million) deal.

During his debut season at the Etihad Stadium, the 23-year-old emerged as a revelation, scoring an impressive 52 goals across all competitions and playing a pivotal role in City's achievement of a Premier League, FA Cup, and Champions League Treble.

Haaland still has nearly four years remaining on his existing contract with Manchester City.

According to reports from The Daily Mail, Manchester City is keen to extend Haaland's contract, adding at least another year to the current agreement.

Additionally, discussions are expected to address the inclusion of release clauses in the new contract.

Haaland's initial contract featured two release clauses, one of which is related to the future of Pep Guardiola as the team's manager.

City aims to reach an agreement swiftly, leaving Real Madrid to monitor the situation from a distance.

Real Madrid is interested in securing Haaland's services for Santiago Bernabeu, envisioning him as part of a star-studded attacking lineup that could potentially include Kylian Mbappe.

Mbappe, the French World Cup winner, is anticipated to join Real Madrid in 2024 when his contract with Paris Saint-Germain expires.