Chelsea's Cole becomes 'highest paid defender' in world after new deal
Chelsea is expected to announce the one-year contract extension ahead of Wednesday's Capital One Cup semi-final against Swansea, but the deal has been agreed, the Daily Mail reports.
Chelsea have agreed to a pay hike for the England defender because it would have cost them well in excess of 15 million pound to secure a replacement left back of similar quality in the summer, the paper added.
Cole's representatives had held tentative talks with Real Madrid, Paris St Germain and Manchester United, but Chelsea eventually caved in to the left back's demands, the paper said. (ANI)