The 31-year-old’s current contract with City is set to expire next summer, but the defender is keen to stay at the Etihad Stadium.
“I want to stay and be part of the future,” said Lescott. “But I understand there’s the business side of it and if it’s not to be, I will walk away from the club with my head held high and no regrets.
“Nothing would please me more than to sign an extension. If that negotiation ever happens, I will be there with my pen ready to sign.”
Lescott joined City in a £22million deal from Everton in 2009.
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.