Birmingham are to hold talks with striker Mikael Forssell over his future at St Andrews.
The Finland international is out of contract at the end of next month, although Blues could invoke a two-year option on his current deal.
But he is one of City's biggest earners and co-owner David Sullivan has admitted the club may struggle to afford to keep players out of contract now they have been relegated from the Barclays Premier League.
Forssell, who came close to joining Hanover last summer, was the club's leading scorer with nine goals in the season just gone and was a first team regular during the final third of the campaign.
Sullivan made no specific reference to Forssell but said: "We have got players whose contracts are up that we cannot afford to renew with the wages they are on and they may decide to leave."