Bologna have confirmed that they will start contract extension talks with the agents of Gaston Ramirez this week.
The Rossoblu are keen to tighten their grip on the 20-year-old as he continues to attract the attention of other clubs.
"I don't think an agreement will be reached in one day," Rossoblu sporting director Roberto Zanzi told Sky Sport Italia.
"But it's normal that a player like him is being followed by other sides because he has some unique talent.
"We, however, want to keep him here for the entire season and we want to be able to offer what he expects."
The Uruguayan is reportedly after a significant wage increase that could see his salary rise from around €220,000 a season to €500,000. With bonuses, that figure could eventually reach €800,000.
As part of the negotiations, it is being suggested that Bologna will insert a €14m release clause, but that rumour isn't being confirmed.
"At the moment there are no conditions in his deal," added Zanzi. "Let's wait and see whether it will be worthwhile adding one into his new agreement."
Ramirez is an attacking midfielder who was linked with Fiorentina, Juventus, Roma and Udinese during the summer.