Salah joined the Reds from Roma for £36.9m last summer and he has quickly become the best player in the Liverpool squad, scoring 36 goals in all competitions already this season, including four in the most recent game against Watford.
It is already the best debut season ever by a Liverpool player, and with seven games still to play this season, it will probably be the most prolific season by any Reds player in the Premier League era.
Salah's form has attracted attention from Real Madrid, who are believed to be planning a huge squad turnover this summer as they assemble the next generation of galacticos. At the age of just 25, Salah is just hitting his peak and could become one of the world's best players in the years ahead if he can maintain his current form.
With that in mind, Liverpool are desperate to tie him to a new deal, although £200,000 a week would still put him far behind the Premier League's top earners. Manchester United's Alexis Sanchez makes £500,000 a week.
Liverpool have had to grow accustomed to losing their best players to Spain, with Barcelona signing Luis Suarez in 2014 and Philippe Coutinho earlier this year.
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But Salah seems content to stay in England to help Liverpool challenge for major honours.
“I like the Premier League," the Egyptian explained. "It suits my style and I love playing here.”
Salah scored for Egypt against Portugal in a friendly on Friday night, but two late goals from Cristiano Ronaldo meant that the Pharoahs lost 2-1.