Liverpool want to make Mohamed Salah their highest-paid player and will use the offer of a lucrative signing-on fee to sweeten the deal, SportsMail reports.
Salah's current contract at Anfield runs through to 2023.
But Liverpool have made it a priority to get the Egyptian forward locked onto fresh terms like many of his team-mates.
However, the Reds do not want to shatter their wage structure, but will instead consider using a signing-on fee.
Salah already has 15 goals in all competitions this season, including last weekend's stunning hat-trick against Manchester United.
It is understood that suggestions Salah is holding out for £500,000 a week is not true, as he understands the financial parameters of owners Fenway Sports Group.
Any new deal would however see him become the best-paid player in the club's history, eclipsing Vigil Van Dijk's new £220,000-a-week contract.
Last week, Salah said: "It doesn't depend on me, but if you asked me I would love to stay until the last day of my football [career].
"I can't say much about that, it's not in my hands. It depends on what the club wants."