The report has also claimed that the 25-year-old is on £36,000 per week as salary at the moment.
Coady has been superb for Wolves in the Premier League so far this season and has been one of the best defenders in the division.
With Liverpool and Arsenal reportedly on the hunt for the 25-year-old, it does make sense for Wolves to hand the England Under-20 international a new contract.
It is hard to see Coady leave Wolves in the January transfer window, and a new contract will make sure that the Wanderers get a sizeable fee in the summer of 2019 should Liverpool or Arsenal do make a move for him.
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