IMO, he should be paid less. Much less. He is getting older. Especially If he wants a two year extension. NO WAY !!!!
A one-year extension and then maaaaaybe he can get paid a little more than the harsh market value. IMO. The problem w him is that he is a captain and these things must be hashed out and discussed IN PUBLIC.
ps So that I would let his contract expire. Let him see the offers he can get from other clubs. And let him see what those clubs are. And let all Liverpool supporters see him for the attention bitch that he is. IMO.
pps IMO = In My Opinion.