West Ham co-owner David Gold is prepared to play a waiting game when it comes to a new deal for Matthew Upson.
The England international's current contract is set to expire at the end of the season, meaning he could walk away as a free agent next summer.
Talks regarding an extension have dragged on for some time, with Upson's future hanging in the balance.
Hammers boss Avram Grant revealed last month that a formal offer had been put to the centre-half and the club were waiting to hear back.
That remains the case at present, with little progress made in a deal which could be vital to West Ham's long-term plans.
They are reluctant to see a player of Upson's calibre leave for nothing, but Gold insists there is no need to panic just yet.
"I don't think there is any rush for Matthew to sign his new deal," he said.
"He is now into the last year of his contract and doing it now or at the end of the season doesn't really matter to either side. Matthew is always welcome to come to me and talk about it.
"The fact that we're bottom of the league makes it a bit difficult but it's no rush for neither him nor us."
Gold has also ruled out the prospect of selling Upson in January should the contract offer remain on the table by the time the transfer window re-opens.
Having worked hard to stabilise the club following a period of financial upheaval, he insists that he and co-owner David Sullivan are determined to rid West Ham of their selling club mentality.
"Our stance is that we do not sell our best players," Gold continued.
"That's what we said when we joined the football club.
"For the last 40 years West Ham have been famous for selling their best players. You only have to look at the last England squad - a third of that squad has come through West Ham - Frank Lampard, Rio Ferdinand, Glen Johnson... All these players have come from West Ham. Imagine, if they were still here, what a great side we would be.
"We are trying desperately to reverse that policy. Can we achieve it 100 per cent? Of course not, but what we can do is do our most to change that philosophy.
"We don't want to sell our players. We want to build a team that is a force to be reckoned with."