The two-time Golden Boot winner is still on the same terms he penned upon his arrival from Borussia Dortmund in 2022, which still have another three years left to run, but a move to La Liga has been mooted for some time.
Real Madrid have long been credited with an interest in Haaland, while Barcelona have also been tipped to move for him as a successor to Robert Lewandowski, reports that sporting director Deco responded to a few days ago.
However, there is not thought to have been any major concern from City's side over Haaland's future, and according to The Mirror, the Citizens are growing hopeful that an agreement will be sealed in the near future.
Haaland's new terms would reportedly keep him at the Etihad for another two seasons until the summer of 2029, as well as increasing his pay packet to an astronomical £500,000 per week.
City, Haaland camp still at odds over release clause?
That wage packet would make Haaland the highest-paid player in the Premier League, overtaking £400,000-a-week Kevin De Bruyne, and one of the highest in Europe behind Barcelona's Frenkie de Jong, who takes home £600,000 a week.
City reportedly held a recent round of negotiations with Haaland's entourage in his native Norway, including his family and agent Rafaela Pimenta, and the striker's camp gave the thumbs-up to the proposal.
However, both parties are still at odds over Haaland's release clause; at present, the Scandinavian sensation has a £150m option written into his contract, which the club supposedly want scrapped in his new deal.
In contrast, Haaland's camp are 'digging their heels in' and demanding that their client's renewal also includes a hefty release clause, although a compromise could be reached by bumping up that option to £200m.
The 24-year-old would therefore become the most expensive footballer of all time should he leave for that price, eclipsing the €220m (£185.5m) that Paris Saint-Germain paid Barcelona for Neymar in 2017.
Haaland's Man City career in numbers
City and Haaland's agents supposedly feel that a £200m release clause would be truer to his market value, and it is hard to argue against such a stance considering the striker's sensational statistics in sky blue.
From 114 matches in a Man City shirt, Haaland has come up with 119 direct goal involvements - 105 of his own and 14 assists - while finishing atop the scoring charts in both of his Premier League seasons so far.
Haaland's debut campaign in the top flight saw him break the single-season Premier League record for goals with an unrivalled 36 in 35 matches, before bagging another 27 efforts in the 2023-24 season en route to the title.
The ex-Red Bull Salzburg starlet already has 15 strikes under his belt from 16 games in the 2024-25 campaign, and he bagged a goal and assist for Norway in their 4-1 UEFA Nations League win over Slovenia on Thursday.
Haaland is expected to lead the line once again for his country against Kazakhstan on Sunday, before returning to Man City for their meeting with Tottenham Hotspur on November 23.