ADELAIDE United must up the cash stakes for Marcos Flores or risk losing the reigning Johnny Warren medallist.

Adelaide officials have tabled the league's only true No. 10 marquee a deal believed to be worth $350,000 a season until 2015. His current contract ends next year.

However The Advertiser understands the Argentinean may be lured by significantly better fiscal options across the border and abroad after his outstanding A-League season where he was judged to be the nation's best player.

Adelaide chairman Greg Griffin said the club would talk about a contract with Flores "when he was ready" with the Argentinean able to sign pre-contract agreements with other clubs from October.

Griffin and Flores will represent Adelaide at the Johnny Warren Football Foundation annual gala dinner in Sydney tomorrow.

The Reds chairman will front SBS's World Game fans forum debate before meeting soccer federation delegates from the Northern Territory in Sydney tonight.

"Marcos is a very intelligent man," Griffin said.

"It's all a balancing act and he would be certainly Adelaide's highest-ever paid player if he was to agree to the deal.

"It's also pointless to compare what Marcos could earn in Qatar, Korea and Japan when you look at the cost of living in those countries."

Melbourne Victory is at least one club believed to be keen to make Flores its new playmaker and has put an offer valued at $200,000 per season more than Adelaide is prepared to fork out.

The Argentinean could almost double his salary if he walked away from the Reds and into the arms of another club with US club Portland Timbers and Argentina's Godoy Cruz also signalling interest.

The loss of long-serving Reds midfielder Lucas Pantelis to Wellington Phoenix on a two-year deal has freed up some salary cap cash.

Adelaide is still hunting for three experienced players before the new season kicks off in October with the club now able to spend up to $400,000 inside the cap.

Adelaide coach Rini Coolen still has a left-footed stopper at the top of the shopping list after signing Bruce Djite, Zenon Caravella and Spase Dilevski for the new season.

Youngsters Paul Izzo and Jacob Melling will take up contracts from January 1 while returning Reds striker Djite still hasn't joined the club's staggered pre-season regime.

Djite will report for duty in July after completing a loan stint with Chinese Super League club Jiangsu Shuntian where he has scored once in seven matches.

Originally published as Reds must find cash to keep Flores