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And Fry has also promised the 37-year-old a role as player-coach if he decides to move to London Road.
In an exclusive interview with the Wales on Sunday, the outspoken manager admitted he was shocked to discover Bluebirds boss Lennie Lawrence had asked Legg to take a 70 per cent pay cut.
And with Legg signalling his intention to leave Ninian Park, Fry hopes to persuade the Wales international back to the Posh.
"I honestly think Cardiff wouldn't have got promoted if it wasn't for Leggy," said Fry. "On that fact alone I would have given him another year.
"I'm not trying to tell Lennie Lawrence or Sam Hammam what to do, they've been in football a lot longer than me.
"But I've already told them, if they let him go I'll be after him 100 times out of 100."
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