Phillips has become a Baggies fans' favourite (Getty)

West Bromwich Albion chairman Jeremy Peace says talks over Kevin Phillips' new contract are "ongoing".

The 34-year-old has scored 24 goals for the Baggies this season but his existing deal expires this summer.

Peace said: "Negotiations with Kevin and his representatives are ongoing and everyone hopes that they will reach a successful conclusion."

Phillips wants a two-year contract but the club want him to sign a one-year deal with a further 12-month option.

It is believed he would need to play a certain number of games in the first season to secure the second year.

Phillips has scored 46 goals in 76 appearances for Albion since joining them from Aston Villa in August 2006.