Beckham, who has started just three games this season, has reportedly received an offer of a two-year extension to his current deal, which expires in June. If he hasn't renewed by January, he will be free to negotiate with other clubs.
"He's a little sad because he's not participating as much as he would like but the situation could change soon," Mijatovic told La Sexta TV station. "He wants to continue as long as he is playing. He wants to wait a little more time to see whether he gets his (starting) place back."
Mijatovic said Madrid wants the former England captain to stay.
"On our side there's no problem, but we also have to listen to the player," said Mijatovic, who added the club had already held meetings with Beckham's representatives.
The 31-year-old midfielder, who hasn't won a major trophy with Madrid since his arrival from Manchester United in 2003, said last week he wants to stay and ruled out a transfer during the January transfer window.
Speculation is rife, however, that Beckham could return to the English Premier League or move to a Major League Soccer club in the United States. MLS side Los Angeles Galaxy is among the clubs reportedly interested.
"A move for Beckham is not something we need to discuss at this point because he's under contract with Real. But if that changes, and there's an opportunity, of course we'd be interested," club president and general manager Alexi Lalas told the British Broadcasting Corp, reports AP.
"There are thousands of clubs out there that would love to have a player of his caliber and the Los Angeles Galaxy is certainly one of them," he added.
Lalas also suggested that the MLS' salary cap may not prevent the signing of Beckham, who has a soccer academy in Los Angeles.
"We recognize that when opportunities that will benefit the entire league come along we have to be able to make adjustments," he said.
Beckham could be recalled for Thursday's Copa del Rey second-leg match with third-division Ecija. Coach Fabio Capello has used Spain's knockout competition to field some of his reserve players.