Reid is out of contract in the summer and there are said to be a number of clubs clamouring over his signature, with Tottenham Hotspur and Arsenal both reported to be interested by the Daily Mail.
West Ham are still understood to be desperate to keep hold of Reid, though, and manager Allardyce provided an update on the central defender's situation earlier today.
“We've done as much as we possibly can [to keep Reid],” he said.
“It was probably the longest [set of] negotiations I’ve ever seen with a player. Whether we can get there in the end, I’m not sure. That’s in the chairman’s hands, not mine.
“I just hope, with us doing so well this year, and us moving into the new stadium, is there a bigger or better club around than West Ham for Winston Reid? I’m not so sure there is, you know.”
Reid has been one the Hammers' top performers so far this campaign, with his displays at the heart of their defence a major reason behind their success.
Comfortable in possession, but also a robust figure, Reid has all the characteristics of a top quality, modern day centre-back and, as such, it is hardly surprising that interest has grown in his services.
West Ham will be hoping that the off-field rumours do not distract from his football and that he maintains his high standards, even if a move is on the horizon in the near future.