Phillips won the Championship Player of the Year award (Getty)
West Brom manager Tony Mowbray is hoping that the club and top-scorer Kevin Phillips will reach an agreement on a new deal.
Reports that Phillips would be leaving the club after a breakdown in talks were denied by both parties.
Mowbray told BBC WM: "It's the same as it was last week and the week before.
"I think there's an agreement between the chairman and Kevin's advisers that they will talk when we know where we are really."
Mowbray added: "Kevin's come out and said that's the situation, I don't get over-concerned about it.
"As I've said all along, I'd love Kevin to stay at the football club to help us next season in whatever division we're in, he's intimated that he would like to do that.
Kevin Phillips is a top professional footballer, so yes of course we'd like him in our squad
West Brom manager Tony Mowbray
"It's a question of his advisers and the chairman coming up with the right deal for a player of Kevin's age, his experience, his quality - all those factors have to come into it.
"The chairman's got a greater responsibility than any one individual, he's got the club to look after.
"But we all hope that some sort of conclusion can come to it and that Kevin remains and hopefully enjoys his football for another year or two."
Mowbray has said he would be delighted to have Phillips in his squad for next season whether Albion are in the Premier League or not.
"He's just been voted the best player outside the Premier League, he's still currently sitting joint-top of the goalscoring charts in the Championship.
"He has a wealth of experience, mainly at Premier League level.
"Kevin Phillips is a top professional footballer, so yes of course we'd like him in our squad."
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