Photo: Chelsea Just Closed a One-Year Deal Worth £130,000-a-week, Official Statement Released

Chelsea defender Branislav Ivanovic has signed a one-year contract extension with the club. The 31-year old is set to earn £130,000-a-week wages in the new contract. The Serbian international was initially holding out for a two-year extension but finally agreed on a one-year extension after the Blues refuse to budge on their policy of not awarding contracts of more than one year to players older than 30.

He has struggled with his form this season, and there were suggestions that he could be let go at the end of the season. But the Blues have decided to put their faith in him and have awarded him a new contract.

Ivanovic said: “I am very happy to stay with Chelsea for another season. After eight years here this is my home, and there is no other place I would rather play football.

“I have enjoyed so much success since moving to the club, and I am determined to help the team achieve more in the last months of this season and next year as well.”

Ivanovic has won all the major trophies with the Blues since arriving at the club in 2008.