The Hammers are thought to have offered the 17-year-old a significant pay rise in the face of interest from clubs including Manchester City.
West Ham United have reportedly offered starlet Reece Oxford a bumper new deal which the Mirror claims would see him handed a significant pay rise as they look to attempt to convince the teenager that his future lies at the Olympic Stadium.
The 17-year-old talent is a reported target of clubs such as Manchester City, Arsenal, and Manchester United this summer after an impressive first season for the club.
Oxford made his senior debut in a Europa League clash with Lusitanos in July, becoming the club's youngest ever player in the process, and was handed his first Premier League start by new manager Slaven Bilic on the opening day of the season in a 2-0 win at the Emirates Stadium.
The centre-back, who can also play in midfield, has made 12 appearances in all competitions for the club this season, and is widely regarded as one of the brightest homegrown teenage talents in England.
His impressive displays have sparked serious interest from several Premier League clubs, but the Mirror claims that the Irons have already offered him a new contract, the terms of which are a significant improvement on the first professional deal he signed in January 2015.
Oxford still has two years left to run on that deal, but with United allegedly having sent scouts to watch him lead the Hammers' Under-21s side to glory this week, the London club will want to act fast to ensure he is part of the bright future they aspire towards.