Depends on Age , any options for extension specified in current contract -- and whether the terms of any new offer are at least as good as current contract.
The FA rules:
There shall be no right to a compensation or transfer fee by the previous Club of a Player who has attained the age of 24 years on or before 30th June and whose contract with that Club has expired. If a Club wishes to offer re-engagement to a Player or exercise an option contained in the agreement the following practice shall prevail. (iii) Within 7 days of the first Saturday in May, or the date of the last competitive Match of the Clubs fi rst team, whichever is the later, the Club must give notice in writing to the Player indicating that either the Club offers a re-engagement or, if appropriate, exercises any option contained in the agreement. (iv) If the notice offers re-engagement it must specify the period which the Club is prepared to agree and the terms and conditions to apply, which must be the same or not less favourable overall than those which applied during the initial period of employment or the option period (if applicable).
