Barnsley boss Glyn Hodges hopes striker Bruce Dyer will take a cut in wages and stay with the club.
Striker Dyer scored 18 goals for Barnsley this season
Dyer's current contract ends this summer and he has been linked with a move to Watford, whose manager Ray Lewington has said he is searching for a forward to bolster his squad.
And Hodges is uncertain about what decision 28-year-old Dyer - Barnsley's player-of-the-season for the past two campaign's - will make.
"I spoke to Bruce on Wednesday and I'm seeing him again on Monday," said Hodges.
"Bruce said he wants to stay and play for Barnsley, but unfortunately we're not in the First Division and I don't know what he's thinking.
"Bruce signed for us when we were in the Premiership and he would obviously have to take a drop in wages if he's to stay.
"We're still waiting for some money to come through from our investors, I just hope we have time to get together again with Bruce and sort out a package that is acceptable."