Francesco Totti is just details away from signing a new contract with hometown club Roma, reports the Gazzetta dello Sport.
The No 10’s present agreement is set to expire at the end of the season, but a new deal until 2016 has been drawn up.
The decisive meeting took place in the Italian capital on Thursday between Roma director general Mauro Baldissoni and Totti’s representative Adolfo Leonardi.
Totti, who will be 37 later this month, will see his present €4.5m a season salary reduced to €3.2m a campaign.
The extension will be made official later this month once Roma President James Pallotta arrives on the peninsula from America.
The two parties have also come to an agreement with regards to the forward’s role at the club when he does finally hang up his boots.
The Roman will be handed a five-year contract to act as the club’s ambassador, a position which will see him net €600,000 a year.
Totti, a World Cup winner with Italy, has just begun his 22nd Serie A season with the Giallorossi. He has scored more than 200 goals in over 500 League appearances for his beloved Magica.