Roma legend Francesco Totti is set to sign a new three-year contract with his boyhood club, according to Corriere dello Sport.
The Italy international's current contract expires at the end of this season but reports suggest that an agreement has been drawn up to keep him at the Stadio Olimpico until 2016.
Totti, who turns 37 later this month, has spent his whole career at Roma and the new deal will see his current yearly wage cut from €4.5m to €3.2m a season.
Reports suggest Roma director general Mauro Baldissoni and Totti’s representative Adolfo Leonardi met in Rome on Thursday and that the signing of the contract is merely a formality, to take place when Roma President James Pallotta returns to Italy later this month.
Totti has turned out 537 times for Roma, and he is currently second only to Silvio Piola in the list of Serie A's all time top scorers with 227 goals.
A World Cup winner with Italy, Totti officially retired form international duty in 2007 but it has been reported he could be selected for 2014's competition in Brazil with Azzurri coach Cesare Prandelli saying earlier this week that "everyone can hope" for a place in the squad, regardless of age.
The Roma captain has just begun his 22nd Serie A season with the Giallorossi winning their first two games of the campaign.
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