I hope you didn't pay a lot of money for him, and tbh, depending on age, for me personally I never ever sign a player that only wants a 1 season contract, never.
Back t your question, I think you get 5 days before his contract ends to start negs. with him, so I would keep a close eye on the days left of him.
Good luck, and let us know what he decides when it comes down to the last 5 days