Gareth Bale is on the verge of signing a new six-year deal with Real Madrid that will keep him at the club until 2022, according to Cadena Ser.
The radio station claims that a verbal agreement has been reached between Bale and Los Blancos to extend his current contract by three more years, and it is close to being formally announced.
With Bale extending his stay with the La Liga giants, the release clause of his contract is expected to swell up to an astounding figure of €500 million.
Bale, who has scored three times and notched up two assists in eight appearances in all competitions this season, joined Madrid in the summer of 2013 for a then record-breaking amount of €100.7 million.
With Bale having established himself as one of the instrumental players on the Madrid roster, former Los Blancos and Wales coach John Toshack believes that Bale will become the leader of the club in the coming years.
"I see a Real Madrid enjoying Bale at the top of his game for two or three years. I believe Bale will win the Ballon d'Or in his career," Toshack told Cadena Ser. "In a few years, he will become the leader [of Real Madrid]."
Toshack added that the first time he worked with Bale, he knew the 27-year-old had all the qualities needed to become a star player.
"He was already a different player to the rest," he said. "Now he is very discreet and a great professional. He knows what he has to do and he is a complete player.
"You don't have to raise your hands or shout all the time to be a good leader. There are other ways to motivate your teammates. Gareth has earned the respect of his teammates at Wales."