Leicester City vice-chairman Aiyawatt Srivaddhanaprabha says talks are ongoing with Nigel Pearson and hopes his manager signs a new deal at the King Power Stadium.
Pearson, 50, has guided the Foxes to the Premier League but his contract runs out this summer.
"Contract negotiations are ongoing," Aiyawatt told BBC East Midlands Today. "There will be more information soon.
"I prefer him to stay. He did a good job and is a good manager."
Pearson took over as manager of Leicester for the second time in 2011 and they romped to the Championship title this season.
He has said he is relaxed about his contract situation, but nine players' deals also expire this summer.
Aiyawatt told BBC Radio Leicester: "It is difficult to say individual because all the contracts are being negotiated."
He also said the club's Thai owners have faith in Pearson.
"I always trusted and believed that he would be the one who would make the team a success and get the team to the Premier League," Aiyawatt said.
"News came out that I would change the manager but I never thought or considered that. I never had any idea to change him.
"I believe that the team he tried to build have a chance to be strong and the long-term plan was to make the team progress in everything, and we have shown we are ready for Premier League."