Scholes has recently hinted that he may be ready to quit the game at the end of the season.
“I would be happy to do something about Scholes’ contract but there is nothing yet,” said the Scot.
“It depends on what Paul thinks himself and I haven’t addressed it with him.
“But he was brilliant in Milan and his form in the last few weeks has been incredible.
“There is no need for him to think of retirement like some people were saying a few weeks ago.
“He is showing on the field what he is capable of and, to me, another year would not be a problem for the lad.”