Defender Christian Schulz is poised to snub a move to Wolfsburg and pen a new deal at Hannover.
The Germany international has been offered a contract at Wolfsburg under new coach Felix Magath, who returned to the helm of his former club on Thursday.
But Hannover president Martin Kind says the 27-year-old is close to signing a fresh deal with the Bundesliga club which will keep him there until 2014.
"We are in discussions with him," said Kind. "If the last few points are clarified, things will move along relatively quickly.
"Christian has suggested that he wants to stay.
"He would like to play European football next season: in Hannover he has the chance in theory, but he definitely won't have that in Wolfsburg."
Schulz, capped four times for Germany, has played a key role for Hannover this season, helping them to a current third place in the table.
Wolfsburg, meanwhile, are in the table's bottom three and have recently appointed Magath on a two-year contract in a bid to salvage their season.