Terry hoped that new coach Carlo Ancelotti will take the club on to the next level and that the club management will secure the future of key current players.

'Another important factor was knowing that Chelsea would be securing key current players for the long term. The strengthening of the squad around this core is crucial to pushing us onto greater success. I am as committed as ever to helping drive Chelsea forward and I will be proud to lead the team for as long as I can,' he said.

Terry and Chelsea will now engage in talks to improve the player's current 130,000 pounds per-week contract. Chelsea won't be able to match City's 200,000 pounds per-week offer but their 28-year-old captain is again set to become the club's highest earner.