Lingard has scored six goals and has four assists to his name since he joined West Ham on loan from Manchester United in the winter transfer window.
His performances have played a big role in pushing West Ham towards fighting for Champions League qualification and the 28-year-old also regained his place in the England squad.
West Ham do want to keep the player and he has also indicated that he would consideration to staying at the London Stadium beyond his current loan stint.
But the east London club are afraid that given Lingard’s performances, Manchester United will drive his price up in the summer.
The Hammers did not reserve an option to buy when they signed him on loan and are facing the real possibility of having to pay an inflated fee for Lingard.
Manchester United have taken note of their player’s performances and while his current contract with the club has a year left on it, the Red Devils are unlikely to agree to sell him for a cut-price fee.
The two clubs are yet to hold any talks over a permanent switch for Lingard to London as both work out their negotiating strategy.
There is also a possibility that other Premier League clubs could join the race for the England international in the coming months.