The contract of Vinícius Júnior expires on June 30, 2027 and, although there have been multiple rumors along the way, there still isn't an agreement for his desired renewal. It's been a complicated matter, especially after the arrival of Mbappé, who has "taken away" the star role at Santiago Bernabéu. As of today, everything is completely stalled and Florentino Pérez seems to have had enough, opening the doors wide for his departure.
He demands to earn as much as Mbappé
There's an important reason why the Brazilian still hasn't renewed his contract with Real Madrid. The negotiation is stuck, and that's precisely because of his latest demand: if it's not met, he doesn't intend to stay.

SER has announced that there was an agreement for him to extend his contract halfway through last season. But everything has changed in the latest talks with his agent, demanding a much higher salary to continue.
What Vinícius Júnior has asked for to stay at Real Madrid is clear: to match his salary to Kylian Mbappé's. He doesn't want to be even one euro behind him, wanting to earn exactly the same, including his famous multimillion-euro clause upon signing.
Florentino opens the doors to Vinícius
In this regard, Florentino Pérez is clear that he's not going to make salary madness at Real Madrid. The pay scale is there to be followed and no one is going to go above it. The highest paid is (and will remain) Mbappé because he's the best player in the world. From there, Vinícius Júnior can demand whatever he wants, but it won't be met.
The idea at Madrid is to keep negotiating during the season that's about to start to lower his demands and reach an agreement. But what's clear is that what he's currently asking for won't be met. If he remains stubborn, the doors will be wide open for him to leave.

Meanwhile, Saudi Arabia remains on the lookout, with a contract worth €1 billion (1.1 billion USD) tax-free for 5 seasons. Florentino would let him leave for about €300 million (330 million USD), making him the most expensive transfer in history. After that, his plan would be to bring together Mbappé and Erling Haaland, which is his dream.
However, Florentino Pérez's priority is clear: he wants Vinícius Júnior to renew and would be delighted to secure his signature. But he won't do it at any price.