Cardiff fan Joe Ledley has played for the Bluebirds since the age of nine
Cardiff chairman Peter Ridsdale and the club's manager Dave Jones will meet midfielder Joe Ledley on Friday to discuss his future.
The Wales international midfielder, 21, is being widely touted as a Premier League transfer target in the January transfer window.
"I have had contact with his agent," said Ridsdale.
"I'm aware of what the agent says Joe's thoughts are and I will be talking to Joe and Dave."
Ledley has 18 months left on his contract and agent David Baldwin said he was happy to stay to the end of his current deal.
Should he leave at the end of that deal, Cardiff could demand a fee as Ledley is under 24, but that would be much lower than they would get for him now.
"Our preference would be to sign Joe on a longer contract," said Ridsdale.
"We'll have a chat with him but I won't allow players to run their contracts down and let their value diminish because frankly I cannot afford to be in that position."
Friday's board meeting has been heavily anticipated and the Bluebirds' chairman understands why.
"It's no more important than the board meeting every month that we have within any normal company," said Ridsdale.
"I suppose the difference as far as the supporters are concerned is that obviously it's immediately prior to the January transfer window and it helps us plan for that."
Ledley says his club performances have put him in the transfer spotlight.
The highly-rated Wales midfielder, 21, has been linked with a potential future at Premier League sides Stoke City and Everton.
"I think I'll be subject of more rumours because I have been playing well," said Cardiff-born-and-bred Ledley.
"There has been no contract talks so what else can I do if no-one has offered me a new contract?" said Ledley.
"If I keep working hard and doing well then I could be here or wherever.
"I'm a Cardiff City player and I look forward to playing football for Cardiff.
"I definitely want to play in the Premier League. Every boy wants to play in the Premier League and that is one thing I haven't achieved yet - but hopefully I can do it with Cardiff."
Stoke had a �6m bid turned down on the last day of the summer transfer window.
Everton have also had bids rejected by Cardiff along with the Bluebirds' Championship rivals Wolves who made a bid last year.
But 24-cap Ledley is still being monitored by a host of Premier League clubs, including Manchester City, Fulham and West Brom.
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