The ink is still wet on the new contract that has been signed by John Terry of Chelsea FC last weekend. The English Premier League is underway and Chelsea FC currently holds first place in the league and have obviously made plans to keep the top spot this season by signing their star centre back, John Terry, to a new 5 year contract. His former contract was initially supposed to run through the 2011 campaign; however, Terry and Chelsea FC have decided to renew their relationship until the 2013-2014 season. Terry is currently 28 and will be 33 when the new contract expires. What makes this defender so valuable? John Terry has made 276 appearances for the Blues in his 12 seasons with the club. Additionally, Terry has proven his worth as he has captained both the English national team and Chelsea FC.
Right now Terry is the highest paid defender in the Premier League and also one of the highest paid players in the league with Manchester City’s Robinho. The former contract of Terry was worth $187,000 dollars a week and he had 2 years remaining on the contract. Chelsea began talks of a new contract after Manchester City tried to lure one of the league’s elite defenders to their side. The new contract has been designed to keep Terry apart of the Chelsea FC even after he retires. Club owner Roman Abramovich plan to renew their strong relationship as he also promised John Terry that he would consider him for club manager following retirement. The new deal is worth a staggering $57 million dollars, which gives Terry a weekly allowance of $229,000 dollars. With club expectations high, Chelsea expect to be successful in the Champions League and Terry could potentially earn another $15 million dollars in bonuses over the 5 year tenure.