West Ham will save “a lot of money” by tying Lukasz Fabianski down to a new contract, according to Kevin Phillips.

The former Sunderland and England hitman, speaking exclusively to Football Insider, believes the Hammers should offer the goalkeeper at least a one-year extension as he heads into the final months of his contract in east London.

With just six months left on his current terms, the 35-year-old is now able to talk to foreign clubs over a pre-contract agreement which could see him leave for nothing at the end of the season.

The Athletic report that the shot-stopper is happy in east London and Fabianski himself confirmed earlier this season that there were talks taking place over a new deal.

Phillips has insisted it would cost the Irons a big transfer fee to try and replace the Poland international but questioned if the keeper would be happy committing to a short-term contract rather than a multi-year deal.

Asked if he expected Fabianski to sign a new contract, Phillips told Football Insider: “It’s a tough one, isn’t it. How do you look at it?

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“Do you look at it as we’ve got a player here that we’ve already got, he’s experienced, he knows the Premier League, he has been good this season? If I was West Ham, I’d be inclined to offer him another year, just to keep his services and go down that route with him.

“Whether he’d accept that or not, I don’t know. You certainly wouldn’t want to lose him because then you’re in a situation where you’d probably have to go and spend a lot of money to replace him. 

“It just depends on the player really, what he wants to do, but if I was West Ham I’d be trying to offer him at least another season just to keep him there.” 

Fabianski has played every single minute of West Ham’s Premier League campaign this season and has a total of 79 appearances under his belt for the Irons.

In other news, Football Insider pundit claims time is up for one West Ham star as death knell sounds on his Hammers career.