Mauro Icardi is reportedly set to agree a new five-year deal with Inter Milan, handing Real Madrid a bitter blow in their hopes of signing the Argentine.

According to a report by Spanish outlet Sport, Mauro Icardi seems to have agreed to a contract up till 2023 with Inter Milan, snubbing interest from Juventus and Real Madrid in the process. The renewal is expected to be made official during the winter transfer window with his current contract set to expire in 2021.

Icardi has been in red hot form this season, netting 13 goals while also providing 2 assists in 19 matches across all competitions. Thus, in addition to having the responsibility of being the Inter Milan captain, the Argentine has also set an example with his individual exploits. His performances have not gone unnoticed, with the likes of Real Madrid, Juventus and Chelsea interested in him.

At Real Madrid, Icardi could have been the perfect replacement for Cristiano Ronaldo, with the Spanish side struggling to score goals at a consistent rate this season. The player’s leadership qualities would also come in handy for Los Blancos, who have been lacking leaders on the pitch this season.

Committed to Inter Milan. (Photo by Emilio Andreoli/Getty Images)

Committed to Inter Milan. (Photo by Emilio Andreoli/Getty Images)

Chelsea have also been flirting with the idea of signing Icardi, with their hopes were also bolstered when Icardi and his wife flew up to London after the weekend to reportedly hold talks with the Blues. Maurizio Sarri is in need of a strong striker upfront, considering that both Alvaro Morata and Olivier Giroud have been disappointing.

But, Real Madrid, Chelsea and Juventus are set to face disappointment in pursuit of Icardi, who is set to sign a new five-year deal with Inter Milan. The contract renewal is expected to be made official in January, although the Argentine’s wife and agent, Wanda Nara tweeted on Friday that the two parties are yet to reach an agreement, “It is 00:30 and I’m still here to read the pages of the renewal.”

If any of the side are to continue harbouring slim hopes of landing the Inter Milan captain, they will have to shell out €110 million to match the Nerazzurri’s hefty release clause. Meanwhile, the player’s salary at San Siro is also expected to be hiked as part of the new deal. Currently, the Argentine draws €4.5 million every year.

The only possible downside from the deal for the 25-year-old is that his chances of winning the UEFA Champions League this season are now over, as Inter Milan have been eliminated from the group stage, whereas the likes of Juventus and Real Madrid have both qualified for the knockout stages after topping their respective groups.

Nevertheless, the latest development will come as good news for Inter Milan fans, with the club managing to rebuff interest from the likes of Juventus, Real Madrid and Chelsea for their captain.