According to Cadena SER, Real Madrid is prepared to increase its contract extension offer to Vinicius, with both parties optimistic about extending through 2031 following recent negotiations.

Real Madrid is prepared to increase its contract extension offer to Vinicius. While the club has no intention of matching Kylian Mbappé's €30 million annual salary, Real Madrid appears to have put forward an offer of €24 million, which seems to satisfy both parties. This represents significant progress after weeks of stalled negotiations, with a meeting that could determine the Brazilian player's future at the club. For the first time since talks began, both the player's team and the club left a meeting feeling very positive, with a potential extension through 2031 now in sight.
On Cadena SER's program "El Larguero," Aritz Gabilondo discussed the matter. He expressed his surprise at such a significant shift in negotiations within just 24 hours: "Honestly, I don't understand it at all. I truly believed that if the situation has changed and it favors Vinicius's demands, then Vinicius is the winner here. This surprises me precisely because of what we said yesterday—that Real Madrid had the advantage at this stage of negotiations."
In recent days, Real Madrid has accelerated efforts to sign Jean-Diomande, with all signs suggesting this could be a clear statement to pressure Vinicius into making a quick decision. At that point, Real Madrid's offer was around €22 million, and it was widely believed that Florentino and his team would hold firm. But now the situation appears to have shifted, and Vinicius seems to be the victor. Gabilondo stated: "If everything has turned in Vinicius's favor, or close to his demands, within 24 hours, then in my view, Vinicius is the winner now."
Javier Herráez then concluded that Real Madrid had no other choice as time was running out. He said: "In these types of contracts, it's almost always the player who wins. If you enter the final year of your contract and can negotiate with other clubs in three months, it's very difficult for the club to gain leverage. After two years of negotiations, Real Madrid has been unable to extend Vinicius's contract because the player and his representatives have played their hand well, and now Real Madrid has no other option."
Therefore, after two years of back-and-forth negotiations, Vinicius and his representatives appear to have achieved their objective. Perhaps they didn't reach the €30 million figure, but both sides may have also discussed image rights percentages, which could help tip the scales toward an extension with Real Madrid.
So Aritz Gabilondo believes that if Vinicius ultimately completes his contract extension with Real Madrid, he has many reasons to celebrate: "If this extension is to be celebrated with champagne somewhere, it will be at Vinicius's home with his closest loved ones. There will be more celebration there than in Real Madrid's offices, and certainly more than in any Real Madrid supporter's home, because some fans have already accepted the idea that he might leave."
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