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Real Madrid Will Improve Their Contract Offer To Defender Pepe - Report

Real Madrid will improve their latest contract offer to keep defender Pepe following interest from some of Europe's biggest clubs, including both Manchester United and Manchester City.

The Portuguese centre-back's negotiations had ground to a halt after the player was demanding more than double what los Blancos were willing to initially offer.

However, according to Sport, Madrid officials are now willing to improve on their second offer to the 27-year-old to prevent him leaving after almost four months of inactivity.

The source has stated that while the basic wage would remain the same, €3 million, the new offer will include bonuses taking the value up to as much as €5m a season.

Pepe's contract is set to expire at the Santiago Bernabeu in 2012 and club general director Jorge Valdano is keen to bring an end to specualtion by renewing the deal as quickly as possible.

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