"We've obviously met and cajoled him and coaxed him and got him into headlocks and kicked him and did whatever we could with him. But it's a big decision for him.
"He has a young family. But we are hopeful. I don't have to tell you the sort of player Lee Keegan is or what he means to this county. We would love to have him and we'll know very soon.
"We've given him all the information we could. We've mapped out to him what his season could look like and that all parties would be happy with. We've helped him any way we can and we need to see him fairly soon.”
Keegan, 33, led Westport to their first Mayo SFC title last year and in November, quashed local media reports that he was set to draw a close on an epic inter-county career that began in 2011.
His return would be a significant boost to McStay’s fledging tenure.
Mayo have already lost Oisín Mullin, who signed professional terms with AFL side Geelong in November, for the foreseeable future while Padraig O’Hora is likely to miss the start of the national league through injury.
Mayo begin their competitive season on January 14th against Galway or Leitrim in the Connacht FBD League and open their Allianz Division 1 campaign at home to Galway on January 28th.