Inter Milan's Milan Skriniar is at the centre of a transfer battle between the two Spanish heavyweights.
The offer was accepted by Skriniar who is now contracted to Inter until 2023, thus increasing his market value.
The new deal reportedly contains no release clause, meaning Inter can demand what they like.
But, according to Corriere Dello Sport, Barcelona and Real Madrid are capable of making 'important' bids that could tempt the Italians.
The failure to add steel to their defences has left Madrid and Barça vulnerable at the back.
Once again, the great rivals will battle one another, this time for Skriniar, and Inter will hope for a big-money bidding war.
It's reported that Inter rejected offers of up to €60m for the 24-year-old last summer, so they could demand much more at this point.
It's unlikely Skriniar will be allowed to leave in January unless they can secure a suitable replacement.
Antonio Conte already bemoaned a lack of squad depth following a defeat to Borussia Dortmund in the Champions League group stage recently.
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