Real Madrid sporting director Predrag Mijatovic has warned David Beckham that he needs to make a decision on his future.
The Spanish giants have made Beckham an offer to extend his contract with his current deal due to expire in the summer.
Beckham has been strongly linked with a move away from El Santiago Bernabeu as he has struggled to establish himself as a regular under Fabio Capello this season.
Real are keen to keep the former England captain and have set a deadline of next week for Beckham to decide whether or not he plans to sign the contract on offer.
"Several months ago we presented an offer to renew his contract due to his importance not only from a sporting sense but from an image one," Mijatovic told the club's official website.
"He wanted some time to think about it but we are in a situation where we lack time and we have to react now.
"Next week we will deal with this matter."
Mijatovic also refuted suggestions that they have made a number of players available for transfer after bringing in the likes of Gonzalo Higuain, Marcelo and Fernando Gago this month.
"Officially, there's no player that we have put on the market to be sold," added Mijatovic.