Everton say they have offered their coveted England striker Wayne Rooney a club record wage of 50,000 pounds a week to stay at the club.
Everton owner Bill Kenwright told Sky Sports News he was hopeful of keeping the 18-year-old, who has been tipped to move away from Goodison Park after making a big impression at Euro 2004.
"I suppose, going into this next season, we were thinking probably 'double-your-money, we'll double what you are on now'," Kenwright said on Monday.
"But (Everton manager) David Moyes said, 'Look, he's the best player in the world and I want to support the best player in the world. I'd like him to become my captain and I think we should offer him the highest wage in our history.
"And I agreed totally and offered him the 50,000 pounds a week. That is not a joke offer, that is the offer in the contract."
Everton said earlier this month that they had offered Rooney a new five-year contract without revealing the financial terms. Rooney's current contract, signed in January 2003, has two years to run.
"Certainly a sale of Wayne Rooney would revitalise the club's finances but a five-year contract would also revitalise the club because the fact is we would have kept one of the major stars of world football," Kenwright added.
The Liverpool-born teenager has been linked with possible moves to several leading European clubs including Manchester United, Chelsea and Real Madrid since his sparkling displays for England in Portugal last month.