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Transfer news: Schalke offer Leon Goretzka huge new deal as they attempt to fight off interest from Arsenal and Liverpool

Schalke are ready to shatter their wage structure to keep hold of Arsenal and Liverpool target Leon Goretzka.

The midfielder is into the final year of his current contract and clubs are vying to snap him up for free next summer.

Arsenal and Liverpool want to bring the 22-year-old to England, while Barcelona and Bayern Munich are also keen on him.

However, according to Kicker, Schalke are desperate for Goretzka to stay and are ready to pay him £8.8m-a-year.

Such a contract offer would make the Germany international the Bundesliga club's top earner by some distance.