UPDATED: Leon Osman agrees new contract

UPDATED: Numerous media sources are now reporting that Osman has indeed agreed to a twelve-month extension to his current two-year contract. The midfielder is closing in on his 400th game for the club and it is understood that Martinez wanted to ensure he kept him in the squad for added depth as well as his veteran presence.

Leon Osman has agreed a new one-year extension to his contract at Everton, according to Liverpool Echo reporter Greg O'Keefe.

The 33-year-old's current deal expires at the end of this season so Osman would, in theory, be able to talk to other sides about a transfer from January.

However, given he has spent his entire career at Everton it is unlikely he will push for a move away unless he is told he has no future on Merseyside.

Leon Osman is set to sign a one year contract extension at #Everton imminently. His current deal would have expired in the summer

— Greg O'Keeffe (@GregOK) November 6, 2014

Roberto Martinez, and indeed his predecessor David Moyes, have spoken of the importance of having local players in the dressing room, with Osman and Tony Hibbert key components of that.

Hibbert signed a new contract in the summer and it looks like Osman is going to follow suit with a deal through to the end of the 2015-16 campaign.

Though their impact on the field is diminishing it appears the influence they have off the field is valued just as much.

The argument against this of course is that there is no room for sentiment in football and maybe Everton should be looking to spend the money on younger players rather than on veterans past their prime.

What are your thoughts on a new deal for Osman? Is it a good move? Does he deserve it just for this alone?