With all the talk of multiple bids by Manchester City for England Captain John Terry during the summer months, Chelsea have decided to reward the 28 year old with a new five year deal that will reportedly be paying him in the neighborhood of 170,000 Pound a week.

Via Guardian

City were prepared to offer Terry £200,000 per week but after a lengthy delay the defender made a verbal commitment to the club he joined as a teenager.

At first Terry denied that his decision was dependent on being offered a new contract yet the player has since signed a deal that leaves him Chelsea’s undisputed highest earner – ahead of Frank Lampard – and second only to Robinho in the Premier League.

According to reports, Terry’s earnings will rise from £140,000 to £170,000 per week, with the 28-year-old scheduled to earn in excess £44m if he serves the full term of his new deal.

“Chelsea are delighted to confirm that John Terry has signed a new five-year contract that keeps him at the club until the end of the 2013-14 season,” the club said. “This reaffirms both John’s and Chelsea’s long-stated desire for him to be at Stamford Bridge for the rest of his playing career.”