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Andrew Crofts could return to Gillingham if Peterborough fail to make an improved offer.
The former Gillingham captain has been on loan at London Road since falling out of favour with Gills boss Mark Stimson.
Crofts was stripped of the captaincy and dropped from the team in the autumn, and promptly loaned out to the League 1 side.
Gills have paid a large percentage of his wage during the loan period but Stimson has insisted that arrangement will not continue.
Stimson said: “At the moment they’ve got the best part of the deal. They’re paying a percentage of his wages and they want to try and keep him on that.
“We’ve given them a deal, take it or leave it and I hope to hear from them. If not he might have to come back and get on with it.”