Vinicius' current contract is set to expire in 2027, and Real Madrid is trying to negotiate a new deal that would keep him at the club until 2030.
Talks between the player and the club have been ongoing for several months, but no agreement has been reached yet.
Real Madrid made an initial offer, which Vinicius responded to with a counteroffer. However, the club has yet to respond to his proposal.
Meanwhile, the Saudi Pro League is reportedly preparing a significant contract offer worth £1 billion for the Brazilian winger.