The 20-year-old has many admirers in the Premier League but his current coach has confirmed that the Eredivisie outfit is negotiating an improved deal for the attacker.
PSV boss Phillip Cocu has revealed the club is in talks with Manchester United and Tottenham target Memphis Depay over a new contract.
The 20-year-old has been heavily linked with a move to the Premier League after his impressive cameos for Netherlands at this summer's World Cup, which came on the back of an impressive season for his club.
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Tottenham had considered a 19 million euro move for the winger but Depay is believed to be a long-term target for United.
Goal understands that the attacker's international manager Louis van Gaal has advised him to snub offers from the likes of Tottenham and wait for a move from Manchester United, while Cocu confirms PSV is discussing a new deal with the forward.
The former Netherlands international said: "He's a very important player for PSV and we must show that to him," when asked about a potential new deal.
The former Netherlands international is in his second year as manager at the Philips Stadion and said the club's hierarchy is discussing terms on a new and improved deal with Depay's representatives.
Depay scored twice in Brazil against Australia and Chile helping the Dutch escape their group and press on to a third-place finish.