Michael Owen is set to land a bumper £21million pay day - if he pledges his future to Newcastle United.
Owner Mike Ashley is reported to be ready to offer the England international £140,000-a-week over three years.
Newcastle have been chasing a new deal for the player for months but he has yet to commit his future to the Magpies.
The 28-year-old, who has started just 37 Premier League games in three years, will be out of contract next summer and Newcastle are determined to protect the value of a player who cost them £16million from Spanish giants Real Madrid.
Fans believe Owen owes Newcastle a longer stay after his first two seasons on Tyneside were ruined by injury.
The former Liverpool forward is believed to be ready to put pen to paper on the deal which will place him just behind Frank Lampard in the Premier League's pay league.
Owen, whose scoring ratio for the St James' Park outfit is as good as one in two, is currently out injured once again but Ashley clearly feels his value to the club outweighs concerns about his fitness.