Crystal Palace are ready to offer Arsenal and Manchester City target Jonny Williams a new contract, in a bid to stop him from leaving Selhurst Park, reports the Daily Mirror.
The 20-year-old attacking midfielder has attracted admiring glances from a host of Premier League suitors, after rising through the Palace academy to make a first-team breakthrough last season.
Gunners boss Arsene Wenger has been credited with an interest in bringing Williams to the Emirates Stadium, and sent Arsenal scouts to run the rule over the Welsh winger.
Manchester City have also been linked with the Palace starlet, but that was prior to the arrival of Manuel Pellegrini at the Etihad Stadium.
Williams signed a five-year contract with the Eagles in the summer of 2012, but is set to earn a bumper pay-rise with a minimum fee release clause inserted into the new deal.
"Jonny remains a highly sought-after player and the contract will give the club more protection," a source close to the club told the Daily Mirror.
"He has progressed through the Academy and Palace have no intention of letting him leave unless it is a big offer."
A move to Arsenal would see Williams reunited with Wales international team-mate Aaron Ramsey in north London, and he could play a pivotal role in convincing the player to join the Premier League leaders, were they to make a satisfactory offer in January.