Dembele is set to depart Peterborough United

Posh have extended the contracts of five promotion-winning players - Ronnie Edwards, Nathan Thompson, Frankie Kent, Dan Butler and Ricky-Jade Jones - and goalkeeper Christy Pym is exp-ected to follow suit soon.

But Dembele is the one player about to enter the last year of his existing deal who has yet to commit his immediate future to the club.

It’s understood Posh have offered the 24 year-old a bumper pay increase and a lucrative new contract, but it remains unsigned.

Posh director of football Barry Fry has yet to discuss the matter further with Dembele or the player’s agents.

Dembele, who is believed to be of interest to several bigger clubs including Scottish Premier League champions Rangers, Celtic and relegated Premier League clubs Sheffield United, West Brom and Fulham, recently changed respresentatives to a firm based in Paris, France.

The situation has frustrated Posh who are keen to complete their squad rebuilding programme as soon as possible.

If Dembele does confirm he has rejected the Posh offer he will be placed on the transfer list as per club policy and a bidding war will likely break out.

Posh have previously rejected several sizeable bids for Dembele who handed in a written transfer request in January because of personal reasons.

Dembele has a young family based in Scotland. His younger brother Karamoko is a player at Celtic.

Posh would expect a considerable fee in the millions for a player they signed from Grimsby for around £300k in June, 2018.

Grimsby will receive a sell-on fee if Dembele is sold.