Erling Haaland's £150 million transfer release clause has "expired," hence Man City is preparing a new deal for him.

His immediate success at the Etihad has been such a success that Pep Guardiola and company are pleased to offer him a new contract.

The Athletic claims that a £150 million release clause that was originally included in Haaland's City contract and was scheduled to take effect in the summer of 2024.

When Guardiola signed his new contract in November of last year, the clause, which was directly related to his future, allegedly expired.

Although the existence of other triggers in Haaland's contract is unknown, City are eager to keep him at the Etihad Stadium given Real Madrid rumors.

The 22-year-old is quite content at City and is pleased with the organization's track record of fulfilling commitments made to him during previous year's negotiations.

The pledge to maintain him in top form was one of these pledges.

Haaland missed 16 games last season due to the various injuries he sustained while playing for Dortmund.

This time around, he is much healthier and has only missed three games due to injury.

During his first season at City, the 6ft 5in behemoth has made 40 appearances and scored an astounding 47 goals.

After his team's thrilling 3-0 victory in the first leg of their Champions League quarterfinal match against Bayern Munich last week, Haaland travels to Germany today for the second leg.

Following their 4-0 aggregate victory over Chelsea, City will play Real Madrid in the semifinals if they advance as predicted.