Ferguson's current loan deal expires on Saturday following Millwall's away match with Chesterfield at the Proact Stadium.
Sky sources understand Millwall are interested in signing Ferguson on a permanent deal, but are keen to secure the 24-year-old on-loan until the end of the season at the very least.

Ferguson is expected to feature for Northern Ireland at this summer's European Championships in France
He has made 27 appearances for Millwall, with his only two goals for the club coming in the 4-1 victory over Colchester United in November.
Ferguson joined Newcastle's youth academy in 2007, but has made just 32 first-team appearances for the club. His contract at St James' Park expires in the summer.
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