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Lucas Silva future unresolved despite Real Madrid and Arsenal interest

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Ancelotti admits interest in Lucas Silva (0:47)

Carlo Ancelotti admits that Real Madrid may be in the market for a midfielder, and Lucas Silva is a potential target (0:47)

Real Madrid and Arsenal target Lucas Silva says his future remains unresolved amid speculation Cruzeiro have offered him a contract extension.

Madrid have made clear their interest in the 21-year-old but have reportedly seen two bids rejected already, with the Brazilian club's president, Gilvan de Pinho Tavares, having set the asking price at 15 million euros. Marca has previously reported that Arsenal have offered to pay that amount.

The player's father recently said Silva is keen to move on in the summer but Brazilian publication O Tempo reports that Cruzeiro offered the player an extension to his current contract, which is due to expire in December 2017, on Monday.

O Tempo says the player has yet to respond and remains eager to join Real Madrid but he told Brazilian channel SporTV that, as things stand, he is planning on returning to training with Cruzeiro in January.

"I am still a Cruzeiro player," he said. "There is a lot of speculation with my name and Madrid in recent days, but in January I am due to go back to my club. Until then many things can happen. I leave everything in the hands of Cruzeiro and my agent, for them to do what is best."

Silva, 21, was named the best defensive midfielder in the league as his club won a second consecutive Brazilian title this year. He has spoken regularly about his hopes of sealing a move to the Estadio Santiago Bernabeu, while also saying that he would like to remain at Cruzeiro for next year's Copa Libertadores campaign.

Marca suggests Cruzeiro hope to increase the release clause in the player's contract to 24 million euros and then cash in during the summer.