Kylian Mbappe scored twice against Real Madrid in the Champions League last 16 but could not prevent Paris St-Germain from being eliminated
The 23-year-old's contract expires this summer and he agreed a financial package with Real Madrid months ago.
But PSG are desperate to keep him and will also offer a £21m net annual salary.
Despite that lucrative proposal, Madrid remains his preferred destination.
Speaking after scoring twice in Sunday's Ligue 1 win over Lorient, Mbappe told the media: "I haven't made my decision, there are new elements to consider. Which elements? Just new elements."
Balague says those "new elements" are the striker's wish to renegotiate with the Spanish club following the new financial offer open to him.
Qatari-owned PSG are putting pressure on the France forward to commit to a new contract and to stay until after the World Cup in Qatar in November and December.
They had already offered him a £125m signing-on fee but are now prepared to increase that by £25m.
Mbappe is represented by his parents, who disagree on what his next move should be, but ultimately the decision will be the player's. If he does stay, his advisors stand to receive £42m as a commission payment from PSG.
Real Madrid are relaxed about the situation as they know they have an agreement in place and they have cooled their interest in Erling Braut Haaland, such is their confidence in concluding a deal for Mbappe.
-- Courtesy of BBC Sport