Barcelona have offered Xavi a huge contract to keep him at the club for the next four seasons, but he has yet to agree as it does not meet his demands.
The Catalan playmaker has yet to make a decision on a deal that would see him earn a basic €7million-a-year plus add-ons depending on how well the team do throughout each campaign, according to Marca.
Xavi's current deal does not expire until 2010, but the Blaugrana are hoping to tie him down to a new one in the next few weeks to ensure he is not tempted to consider trying his luck elsewhere.
While the huge offer is tempting, Xavi told club officials that he wants €9m-per-season, which would make him the second highest-paid player at the club behind Lionel Messi.
Five meetings have already been held without agreement and more are anticipated to take place this week with the midfielder's representatives expected to continue to highlight his importance to the team.
At 28, Xavi knows that this could be his last chance to make his current demands and wants to ensure that the club are prepared to back him.
Following reports last summer that Barcelona were seriously considering cashing in on their vice-captain, he is now determined not to be undervalued again and knows he has the support of coach Pep Guardiola.