Darren Ferguson admitted Paul Taylor is likely to leave the club after the striker fired Peterborough to a 1-0 win over Leicester.
A stunning strike from 25 yards was enough for all three points at London Road as Posh moved 10 points clear of the relegation zone.
The outstanding goal came just 24 hours after it was made public that the forward had shunned a new deal at the club.
Peterborough boss Ferguson said: "Paul has been offered a contract better than anyone else but he has decided not to sign it.
"He sees his future being in the Premier League and we have to respect that decision.
"He scores brilliant goals like that in training all the time so it was no surprise to see him do something special in a match.
"Mathematically we are not quite safe yet and we have to ensure we retain our focus to finish the job."
Leicester's hopes of the play-offs are fading fast, as they slipped seven points behind sixth placed Middlesborough.
With Boro drawing with Brighton, Foxes boss Nigel Pearson was left to reflect on a "missed opportunity".
Pearson said: "One or two key decisions went against us but we had an unbelievable amount of openings yet lacked the quality to put the ball in the back of the net.
"We paid a very heavy price for that and the disappointment is heightened by the fact that there is so much riding on matches like this after we have worked hard to get into play-off contention.
"In all truth we didn't do enough out there and seven points is an awful lot to make up at this stage of the season. The players need to respond and give it everything they have though."