Town boss Paul Lambert says the Blues are talking to Alan Judge and Will Keane about remaining at Portman Road beyond this season.
Judge, 30, joined Town from Brentford for a nominal fee in January on a deal which runs to the end of the season, which includes a one-year option the Irish international has described as "more in the club’s favour”.
Keane, 26, signed at the same time but on loan from Hull City, who have an option to keep him for a further season but appear certain to release him in May.
"That’ll be [down to] Judgey and his agent with [Town owner] Marcus [Evans]," Lambert said when asked about Judge's situation. "I think he loves it here. We’ve already had a chat with Judgey and he loves playing here.
"I think Judgey’s form and the way he plays the game, if this club stayed in the Championship or got relegated, I don’t think it would affect anything regarding his Irish national thing because the ability is always there.
"You don’t take the ability from somebody because you go higher or you go lower, your ability is what it is and it stays the same and Judgey’s been excellent for us.
"If it’s something that we can do and he’s happy with everything, then it would be something you would definitely look at it.”
He added: "Him and his agent will talk and they’ll talk with the club. But he knows my feelings on it because I’ve spoken to Judgey so I don’t have a problem with the relationship between myself and Judgey at all, it’s what can be done. But my recommendation with Judgey was definitely for him to be here.”
Regarding Keane, he said: "Will’s the same, I think Marcus has spoken to his agent. I think Will’s another one that loves it here as well.
"Up until he was injured he was playing excellently for us. He’s scored three goals since he’s been here and all of a sudden he got injured. I know Marcus is speaking to his side.”
Keane, who joined Hull from Manchester United when the Tigers were in the Premier League, is likely to be on very significant money at present, while the Blues would have to cut their wage bill in League One with relegation now looking certain.
Lambert admits that Town could find deals beyond them: "That’s all around the world that, anybody going for a Manchester City player. If drive a Skoda and you want to go a drive a BMW, if you can’t afford it you’re not going to buy the BMW, are you? It’s the same, it’s the same with players.
"Sometimes a player’s too dear, if that’s the case then we can’t do anything.
"That's what’s been happening here before and that’s my point. You go and say we can’t have this player, we can’t have this player and we get in a loan, get in a loan. Then loanee gets injured, goes back, you have an academy.
"That’s my point about building the club, it’s impossible. You have to an infrastructure if you want to do it long term. But everybody has to hold their nerve with it and I think that’s absolutely vital.”