Birmingham manager Alex McLeish is in line for a new deal at the end of the season if his side can maintain their good form.
Blues head into the Christmas period seventh in the Premier League on the back of a nine-match unbeaten run which stretches back to the middle of October.
Vice-chairman Peter Pannu told the Daily Express: "Put it this way, we would consider it a disaster if anyone would come and snatch Alex McLeish away."
He added: "That won't happen. We need to protect ourselves. We are doubly impressed with Alex - with his achievement within the budget here and his whole approach. Carson is absolutely thrilled.
"Alex has done a wonderful job. He can stay as long as he wants to stay with us."
Pannu stopped short of promising McLeish a new contract, though.
"We will review it at the completion of this season. We still have five months to go and Alex's contract is for 18 months," said Pannu. "I am a lawyer and a very pragmatic person. Having done a couple of family law cases in my early years I know how things can sour between husband and wife, let alone in football.
"So let's take it in our stride. We are doing very well now and I have no doubts that will continue with new players coming in during January.
"If this was the end of the season right now, I would give Alex a new contract straight away.
"I think, touch wood, we will remain in the Premier League now.
"I have to say, also, that Alex is not pushing us right now for a new contract - as some managers might."
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