Chelsea defender confirms new contract with the club

Chelsea’s iconic captain John Terry has agreed terms to stay with his club despite being forced to cut his current weekly wages in half, Daily Star reports.

His new contract will halve his current £160,000-a-week wages to only 80,000-a-week, according to agreements set by the board.

The 33-year-old was part of the Blues set-up at a mere age of 14 and has currently made 646 appearance for the club, wearing the captain’s armband for the last 10 years.

Terry is set for a stay at the club with the captain’s armband also to remain with the defender until he finally decides to move on.

Reports suggest that he is looking forward to continuing his career at the club, therefore trading his weekly wages for a further one year extension is something that had to be done.

Ashley Cole and Frank Lampard’s contracts are also set to expire at the end of this season and Cole looks likely to be on his way out with a majority of other clubs looking to sign England’s left back on a free transfer.

It is believed, however, that Lampard is set to follow his captain’s decision and remain at the club for another season, also taking a pay-cut to do so.