Conor Gallagher is ready to hold firm and fight for his future at Chelsea despite the club’s willingness to listen to offers for the midfielder this month.

Gallagher’s contract expires at the end of next season and there has been no sign of a new deal being agreed. Chelsea, who are in talks to loan Ian Maatsen to Borussia Dortmund with an option to buy, have been reluctant to keep players whose contracts are running out. They would prefer to act to avoid any prospect of losing Gallagher on a free transfer, particularly with financial fair play considerations to take into account.

Related: Nikola Kalinic signs for Hajduk Split until end of season on €1 salary

However the England international is not in a rush to leave and is unlikely to be pressured into making any decisions on his future. Gallagher is a product of Chelsea’s academy and has established himself in the first team this season.

Nothing has been decided and Chelsea, who have spent about £1bn on transfers under the Todd Boehly-Clearlake Capital ownership, have not ruled out reaching an agreement on an extension with the England international. Gallagher has played well this season and is appreciated by Mauricio Pochettino, the board and the recruitment team. At the same time Chelsea have to factor in FFP and they would find it hard to turn down an offer of at least £50m for the 23-year-old.

Tottenham and West Ham tried to sign Gallagher last summer but were put off by his asking price. Spurs were quoted £50m. They remain interested but have not held talks with Chelsea over a deal this month. It remains to be seen whether anyone is capable of meeting Chelsea’s valuation at this stage of the season. Newcastle and Bayern Munich have also been linked with Gallagher.

The expectation is that Gallagher, a fan favourite, will not move during this window. Pochettino values him for his energy, versatility and pressing, and Gallagher has worn the armband when Reece James and Ben Chilwell have been absent this season.

The sense around the training ground is that Gallagher is hopeful of leading Chelsea out at Wembley in next month’s Carabao Cup final. Pochettino’s side face Championship opposition in Middlesbrough in the semi-finals this month.

Uncertainty will linger if Gallagher stays but does not sign a new deal before the summer. Chelsea sold another popular academy product, Mason Mount, to Manchester United last summer. Mount had a year on his deal and talks over an extension had broken down.

Selling academy players helps Chelsea’s FFP situation because money received goes down as pure profit. That partly explains their willingness to part with Maatsen. Bayern Munich have also been monitoring Trevoh Chalobah, who needs to recover from a hamstring injury, and Armando Broja’s situation could change if Chelsea sign a top striker.

Maatsen leaving could prompt Chelsea to target a left-back. They are also looking into signing a centre-back.