Famed football journalist Fabrizio Romano has said that Manchester City are set to negotiate a new contract for Champions League semi-final hero Riyad Mahrez.

What's the latest news on Riyad Mahrez?

According to Romano speaking on his Here We Go podcast, Manchester City are looking to open talks with 30-year-old Mahrez over a new contract.

Romano said, "Mahrez is one of the players that Manchester City are intending to negotiate and open talks [with] about a contract. It's not saying that he's extending the contract, but they will talk about it with the player and speak with his agent. They will do it in the next month. 

"He has two years on his contract but they want to keep Mahrez. They are happy with Mahrez." 

WHAT A TEAM! This Man City fan on The Football Terrace can't believe what he's seeing from Pep's side...

https://www.youtube.com/embed/wd0BBbnT8ZA?start=585

What are Mahrez's stats this season?

Based on WhoScored statistics, Mahrez has been City's third best performer this season achieving a rating of 7.32 in the Premier League.

The 62-cap Algerian has amassed 14 goals in all competitions for his club, registering a further 6 assists with strong performances contributing to a Carabao Cup triumph, a European final and bar a miracle, another Premier League title.

Two of his 14 goals came in a crucial 2-0 victory against PSG in the Champions League semi-final, where he was named man of the match with a staggering rating of 9.7. His goal-scoring impact was enough for City to reach their first ever UCL final.

Are Man City making the right decision?

Despite such strong form this season, Mahrez is 30 years old and is theoretically heading towards the latter stages of his career.

From a transfer perspective it could be wise to cash in on the Algerian who has just two years remaining on his Man City contract and is currently valued at £37.8m according to Transfermarkt.

However it would be difficult to say goodbye to a player that is on the top of his game right now.

Who else could be handed new Man City contracts?

Romano has also spoken on City's intention to renew the contracts of both Phil Foden and Raheem Sterling after already extending the deals of both Pep Guardiola and Kevin De Bruyne.

"The other name on the list [to renew contracts] is Phil Foden," said Romano. "What a player, what a talent, he is incredible. He has a long-term contract with Man City so there is no problem or no rush."

Romano waxed lyrical over the exciting English talent and suggested that the City will offer him an improved financial package to keep him at his boyhood club.

"They are already planning for the next months to open talks and give him a better salary and improve everything because they want him to be 100% with the club."