Portsmouth have confirmed new contracts have been offered to England goalkeeper David James, defenders Hermann Hreidarsson and Ricardo Rocha as well as veteran forward Kanu.
The Fratton Park club - £138million in debt - are preparing for life in the Coca-Cola Championship and hope to come out of administration, which saw them docked nine points by the Premier League, for the start of the new campaign.
On Tuesday administrator Andrew Andronikou revealed the club hoped to retain some of their first-team squad to give Pompey a "firm base" on which to build.
While it remains to be seen whether manager Avram Grant, who is a target for West Ham, will be in charge next season, the south coast club hope Wednesday's news will provide a positive start going forwards.
James will turn 40 in the summer, and has yet to confirm his plans for after the World Cup.
Hreidarsson, 35, missed the end of the season and the FA Cup final at Wembley with an Achilles injury.
Rocha, the 31-year-old former Portugal international, and Kanu, 33, are seen as key to giving Pompey some much-needed experience next season.
Promising youngsters Lenny Sowah, Joel Ward and Marlon Pack will also be retained.
However, many of the on-loan players - like Jamie O'Hara and Aruna Dindane, a target for Bolton - will return to their parent clubs.
Anthony Vanden Borre, though, could come back if a deal can be agreed with Genoa. Veteran defender Steve Finnan is among those released.
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