The Gers fullback is being linked with Premiership new boys Blackpool.
A decision will be taken over the next two weeks after consultations with the club and his agent, Tom Callaghan.
Broadfoot has gone through too much to carve out a place for himself at the club to dismiss the prospect of staying in favour of a lucrative move elsewhere.
He said: "I'm due back at Murray Park for pre-season training on July 3. I'm leaving my options open between now and then. It would be hard for me to leave Rangers but it is a short career and there's an obligation to look after yourself and your family.
"But I know I'll be able to speak to Walter Smith about what's best for me. I was delighted to come back from holiday in Dubai this week to discover he'd extended his contract with the club.
"Walter is the best manager I've worked with and such an approachable man for someone who's achieved so much."