Bordeaux have now offered him a new deal but club president Jean-Louis Triaud fears the worst.
Triaud said: "You can say we've dealt with the Chamakh situation badly. We should have acted earlier. We took weeks, if not months, to identify his adviser. We didn't know who he was.
"But it's true, we should have acted and discussed things a season earlier. We've told him he can have as many years as he wants. Two, three, four years - whatever he wants.
"We're not running after him as he has the cards in his hands. It's up to him to come to us now."