Anelka & Joe Cole Extends Chelsea Contract On Reduced Wages

Chelsea forwards Nicolas Anelka and Joe Cole look to set to learn about the new, more stringent economic policy at Stamford Bridge very soon, with a report from The Sun claiming that the pair will be offered only one-year extensions to their current contracts by the club hierarchy. Those one-year extensions, with the option of another year only available if both club and player agree, will also be on substantially reduced wages, according to the report. The new policy is apparently part of Chelsea owner Roman Abramovich's plan to cut costs at Stamford Bridge, after players such as Juan Veron and Andriy Shevchenko cost tens of millions of pounds in wages whilst on loan at other clubs. The two Blues stars are said to have been somewhat surprised by the offer. However, their pointing to the fact that Didier Drogba, John Terry and Frank Lampard, all older than Anelka, 30, and Cole, 28, have all recently inked new long-term deals, each worth more than 6 million a year, cut no ice with the Blues' hierarchy as football adjusts to a new economic climate. Anelka is currently the fourth highest ranked Chelsea player in the Castrol Rankings, at No.27 overall, while Cole is 18th in the Chelsea team and No.1324 overall.