Sunderland legend wants contract boost as Peterborough United hope for bidding war for £10m-rated ex-Newcastle striker

The defender was one of three players offered a new deal, with Chris Maguire signing and Jon McLaughlin instead opting to join Rangers on a two-year deal.

Club legend Kevin Phillips says he isn’t surprised there is interest in Flanagan and hopes he signs a new deal on Wearside.

“In that current squad, he would be a big loss,” said Phillips.

“I am not surprised there is a few other clubs sniffing around because he did well last season.

“It would be a blow so I would like them to get the lad on a new contract. That would be great,” he told Football Insider.

Meanwhile, League One rivals Peterborough United are hoping for a bidding war this summer for £10million-rated striker Ivan Toney.

Posh director of football Barry Fry told the Peterborough Telegraph: “My chairman is confident we will get what we want for Ivan.

“And that’s much more than the £4million plus many add ons that New York offered. I was surprised by that offer as they have plenty of money.

“The chairman can see top clubs ignoring foreign players in favour of spending less money in the UK market.

“We will see, but I believe other factors will be in play and there could well be a bidding war when the Premier League and Championship seasons are over.”