Real Madrid are set to make an amazing offer to Xabi Alonso to prevent his return to the Premier League, according to reports in Spain.

Alonso ends his contract with the Spanish giant at the end of the season and in only one month he will be free to negotiate with other clubs - with Manchester City, Chelsea and Manchester United among the clubs that are monitoring his situation.

Spanish newspaper El Pais claimed that Real Madrid had some doubts about Alonso's future at the club due to him being 32 years of age. However, their mind has changed after the midfielder returned to the squad from a long injury lay off making a great impact to the team.

Now, according to the reports, Real Madrid President Florentino Perez is desperate to keep Alonso and is willing to double the first offer that he made to the midfielder.

According to Spanish sources Alonso earns around £3.7m a year and Real Madrid had offered him just £2.9 to extend his contract because they were not 100% sure about his shape after the injury. However, Alonso has shown lately that he is still a key player for manager Carlo Ancelotti so Real Madrid are now willing to offer him £5.4 m a year for the next two seasons.

The former Liverpool midfielder has said that he will make a decision after Christmas and in case he decided to quit Real Madrid there are many clubs interested in him - including Manchester City, Manchester United and Chelsea.

El pais reported that City has already offered him £8m a year to secure his services next summer while Chelsea could be another option for the Spaniard due to his good relationship with Jose Mourinho, who managed him at Real Madrid. Juventus and Paris Saint Germain are also keen to land the vastly experienced midfielder.