John Terry to sign one-year Chelsea extension?

Chelsea captain John Terry is reportedly ready to halve his wages and sign a new one-year contract with the club.

The Blues have offered the defender a fresh deal at Stamford Bridge, but want the veteran centre-back to take a 50% cut on his £160,000-a-week salary, according to the Daily Star.

Terry is said to be prepared to agree to the new terms and stay on for a further season, after enjoying an excellent campaign alongside teammate Gary Cahill.

The 33-year-old has made 646 appearances for the Blues.