John Terry agrees to £90,000-a-week pay cut to stay at Chelsea for another year as he rejects lucrative switch to China

John Terry will stay at Chelsea for another year but has agreed to a potential wages drop of £90,000 a week.

Terry has signed a new 12-month deal at Stamford Bridge, rejecting a much more lucrative move to China to prolong his Chelsea career.

And Sportsmail can reveal that the former England captain has seen his basic salary drop close to £5million a year — from £140,000 per week to £50,000 per week.

The defender pictured signing his new one-year contract with the Stamford Bridge club on Wednesday

The contract offered to Terry last week was heavily based on incentives — particularly with regard to appearances.

Furthermore, it was made clear to Terry that he will not be viewed as an automatic starter by incoming manager Antonio Conte.

But the Chelsea captain is backing himself to play regularly, hence making up the significant shortfall in his basic wage, despite the warning that he could play a peripheral role.