Peterborough director of football Barry Fry has confirmed midfielder Charlie Lee has agreed in principle a new four-year contract to stay at London Road.
Lee has become a huge favourite with Posh fans since arriving from Tottenham last summer and manager Darren Ferguson is keen to tie up his long-term future.
"We spoke to Charlie about a new four-year deal and it has been agreed in principle, it is just a case of sitting down and signing the documents," Fry told the club's official website.
"Charlie had a magnificent season last year and scored eight or nine goals from midfield.
"He is only 21 and the experience he has gained this season will make him one hell of a player next year that is for sure."
Fry also revealed that seven of the current squad have been transfer-listed.
Goalkeepers Mark Tyler and Shwan Jalal, defenders Adam Smith, Adam Newton and Danny Blanchett, midfielder Josh Low and striker Danny Crow have all been made available for transfer by boss Darren Ferguson.
"We need to get players out of the club before more can arrive so the seven names have been circulated to other clubs. They have all been made available for transfer," Fry said.
One of those listed Mary Tyler - has seen his hopes of a permanent move to Hull fall through.
The 31-year-old joined the Tigers on loan at the end of January to act as cover to first-choice stopper Boaz Myhill.
But boss Phil Brown has no plans to sign Tyler on a permanent basis, with Fry saying: "Mark has been on loan at Hull, but I have spoken to officials up there and they are not interested in taking him permanently, so that is the end of that."