I'd be sticking a contract in front of Sykes similar to the one we gave Cam. A 2.5 year contract with a release clause that activates in the summer if we don't get promoted. Lets him know we value him and want him to fight for promotion with us, but also assures him if Championship clubs come calling in the summer he can go.
If he continues this form for the rest of the season, gets around 20 goal contributions, and we have him on a good contract his value is probably around 750k? A contract with a release clause of 500-750k if we don't go up protects us from losing a good fee and protects him from being stuck in L1 if we fail to go up this year. Everyone wins - except clubs trying to snag him on the cheap in January but who cares about them.