Sam Allardyce has revealed that West Ham United are in negotiations to extend Carlton Cole's stay with the Club.
The England striker returned to the Boleyn Ground for a second spell in October 2013 and, after returning to full match-fitness, has scored three times in nine Barclays Premier League appearances.
The 30-year-old has bagged against Fulham, Manchester United and Arsenal and, with his short-term deal set to run out on 13 January, the manager said the Club are moving to secure Cole's future.
"We've got that in mind and are talking about that as quickly as we possibly can because obviously it needs to be addressed," confirmed Big Sam. "Carlton will be dealt with very shortly."
Cole's three goals this season have taken him up to 17th on West Ham's all-time list of goalscorers, ahead of Julian Dicks, Bill Robinson and Frank McAvennie.
Capped seven times by his country, the Croydon-born frontman has netted 62 goals for the Hammers and could make his 250th appearance for the Club in Sunday's FA Cup with Budweiser third-round tie at Nottingham Forest. Cole scored on his most-recent visit to the City Ground in a 4-1 Championship success in August 2011.
After scoring just seconds into his initial debut against Charlton Athletic in August 2006, he finished as West Ham's leading scorer in four consecutive seasons between 2008 and 2012 and also scored the opening goal in the 2012 Championship Play-Off final victory over Blackpool at Wembley.
Meanwhile, the Club has exercised an option in Play-Off final match-winner Ricardo Vaz Te's contract that will extend his stay at the Club until summer 2015.
The 27-year-old, who is closing in on a return to action after three months out with a dislocated shoulder, has scored 19 goals in 55 appearances since his arrival from Barnsley in January 2012.
A versatile forward, the former Bolton Wanderers and Hibernian man became a cult hero among the Claret and Blue Army when his late goal secured promotion at the Home of Football in May 2012.
While Vaz Te's future has been secured and Cole could be set to stay at the Boleyn Ground, Big Sam also confirmed that Croatia striker Mladen Petric has departed by mutual consent.
The forward, who turned 33 on New Year's Day, made four substitute appearances after joining the Club as an unattached free agent in September 2013. However, a calf injury restricted Petric's availability.
"Mladen Petric has been released on the fact the unfortunately, for whatever reason, he never recovered from his [calf] injury that he picked up, so that was another one who everybody seems to forget about who sadly wasn't able to make an impact for us," Big Sam confirmed.
West Ham United would like to thank Mladen for his efforts and wish him luck in his future career.