The French star has been linked with a big money exit after starring over the last year.
Payet was the star of the show for the Hammers last season with a series of impressive performances following his move from Marseille.
He has since shone at Euro 2016 earlier this summer, where he was a key part of the France side that made it to the final of the tournament.
His performances over the last year have not gone unnoticed, with reports that European giants such as Real Madrid were considering a move.
But Cottee has questioned why the French star would want to leave given the current set up at the club.
“The squad is strong. Why would the likes of Dimitri Payet want to leave? There is no reason to leave an environment like this. West Ham don’t have to sell any more.”
It now remains to be seen if Payet does stay with West Ham this summer but all indications are that that will be the case.
It would not be surprising to see him making a move to one of the European giants given the level of performance he has shown over the last year.
With their increased spending power and the Olympic Stadium to offer though, West Ham is an attractive option and there is little reason for him to go at this moment in time.