Following talks with Madrid president Florentino Perez, agent Juan Figer will present the new bid for the 21-year-old midfielder to Santos on Sunday.

"Despite what has been said, the transfer hasn't happened yet," Figer was quoted as telling Marca.

"We hope the operation will be completed very soon and that Real Madrid's offer meets expectations."

Madrid reportedly agreed to a provisional fee of �10.75m with Santos when it gained first option on Robinho in November.

However, his recent performances persuaded Santos to ask for more, Marca said.

Last week Santos were eliminated from the Copa Libertadores quarterfinals by Atletico Paranaense.

Contracted to Santos until 2008, Robinho was man of the match in Brazil's 3-0 Confederations Cup win over European champion Greece on Thursday.

His skills played a key part in Santos' revival over recent years and earned him comparisons with Pele, who also played for the Brazilian club.

In 2002, Robinho helped Santos win its first national title since 1968 before they repeated the feat again last year.

A transfer to the Spanish giants would see him reunited with former Santos boss Vanderlei Luxemburgo, who is now coach of Real Madrid.