The 29-year old striker has attracted interest from the likes of Liverpool and Birmingham and despite the fact his current contract goes until 2012, the Cottagers are hoping to keep him at the club.
Assistant boss Mark Bowen revealed contract talks were ongoing and the club were hoping to tie up a deal soon.
"What I know is that he is currently in discussions with the club over a possible new deal," Bowen said.
"It has been ongoing for a few months and obviously way before Mark (Hughes) and I came in.
"But my understanding is that we are hopeful Bobby will agree a long-term contract with the club."