Portsmouth have confirmed they have put an informal contract offer on the table for David James.
James has been at Pompey since 2006 and will be playing in the Championship next season if he signs a new deal following their relegation from the top-flight.
Reports had suggested that the England goalkeeper would not be offered an extension at Fratton Park but the club have refuted such claims.
Administrator Andrew Andronikou insists that the 39-year-old will be able to make up his own mind if he wants to remain on the South Coast, despite Portsmouth's financial troubles.
"Two weeks ago we met with his agent, Colin Gordon, and said we wanted David to stay," he told the Portsmouth News.
"There are financial considerations, but we have informally made an offer to him and hopefully we'll move it on in the next few days."
Although James will be offered a new contract, he will be in the minority at Portsmouth as they are expected to let a number of players go to reduce the wage bill.