The goalkeeper is out of contract this summer and is attracting interest from several clubs.
The goalkeeper has been told by Walsall chief executive Stefan Gamble, as reported by the Express and Star:
“We’ve been speaking to Richard for some time and we have made him an official offer on May 7 and he has to come back to us by June 7.
“So he has a calendar month in which to accept or reject the offer and we’re very keen to sign him.”
“We’re going to have to wait to see what the response is. That’s the offer we’ve made at the moment and Richard will have his own ideas about where he wants to be.
“I hope it’s with us but if it’s not, then he’s had a great couple of years with us and now we’re playing a waiting game.”
The 26-year-old was recently linked with a move to Nottingham Forest, with the Walsall Advertiser reporting their interest today.
His contract expires in the summer and it would appear that if he has not agreed a new deal with the Saddlers by the 7th June they will turn their attentions elsewhere - leaving interested clubs such as Forest to make their move for the keeper.
O'Donnell has been one of the best stoppers in League One throughout 2014-15 and has been with the club since joining from Chesterfield back in 2013.
Forest are obviously in the hunt for a new custodian as current number one Karl Darlow is definitely departing in the summer. He joined Newcastle United last year, but spent this season back on loan at the City Ground. Now he and Jamaal Lascelles will be returning to their parent club for the 2015-16 season.
So Forest need a new keeper, with O'Donnell the perfect signing considering their current transfer embargo issues.