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LONDON. — John Terry (pictured)has signed a new one-year deal at former English Premiership soccer champions Chelsea after agreeing to take a big pay-cut to end speculation he would be forced out of Stamford Bridge.

Terry was offered a deal worth significantly less than his £150 000-a-week salary while he will no longer be a first-team regular.

The centre-back sparked fears he was on the verge of leaving Chelsea against his will when he claimed in January he hadn’t been offered an extension to his contract, which was due to expire in June.

With Italy coach Antonio Conte due to take charge at Stamford Bridge once his Euro 2016 commitments are over, it had been reported Terry could be eased out by the new boss.

But the 35-year-old former England defender was offered the new deal last week and, after speaking to Conte and Blues owner Roman Abramovich, he agreed to extend his 21-year stay with Chelsea by at least another season.

His head was turned by offers in China but the 35-year-old has decided to stay following discussions between him, new boss Conte, Abramovich and the board.

The news was announced on the official club website this morning.

A statement read: “Chelsea Football Club is delighted to announce John Terry has signed a new one-year contract.”

Captain Terry paid tribute to the Stamford Bridge fans after penning the deal.

Terry says he signed a contract extension at Stamford Bridge because he’s Chelsea “through and through.”

Terry said: “I am delighted to sign a new contract with the club. Everyone knows I’m Chelsea through and through.

“I am looking forward to next season under the new manager and hopefully we can make it a successful one.

“Also, a special mention to the fans for their continued support. You’re the best in the world.”

The agreement takes Terry into his 22nd year with the club having signed at the age of 14.

He has made 703 first-team appearances, the third-highest in the club’s history, with a club-record 570 of those as captain.

Terry, who missed the last two games of the season following his red card at Sunderland, gave an emotional post-match speech to Chelsea fans on the pitch following Sunday’s match against Leicester.

But when the centre-back cancelled a party due to be held at Stamford Bridge on Monday as part of his presumed farewell, it was clear he was set to stay after all.

Terry opted to remain with Chelsea after reportedly considering offers from Chinese clubs Shanghai and Jiangsu Suning, with both said to be offering lucrative two-year contracts.

Chairman Bruce Buck said: “We are delighted John will spend another year at the club. He has been the leader of the Chelsea squad throughout the most successful period in our history.

“He recently reached the 700-appearance mark, which is testament to his professionalism and dedication as well as his undoubted talent.’

Director Marina Granovskaia added: “We look forward to another year with John at the club, and believe he will be an important figure in the dressing room and on the pitch as we look to bring success back to the club next season.”

Meanwhile, Chelsea have agreed a £60m-a-year sponsorship deal with Nike, according to reports.

The Daily Telegraph claim the contract is all but signed with the sportswear giant ready to offer double the current amount the Blues received from Adidas.

Chelsea confirmed last week they would be ending their existing sponsorship deal six years early at the end of the season.

That will cost Roman Abramovich £40m in compensation but with Nike’s offer the cost will have little effect on the club.

The kit deal will be the second most lucrative in football history with Manchester United’s £75m-a-year deal with Adidas leading the way.

Chelsea director Marina Granovskaia is believed to have agreed the deal after also completing a £40m-a-year partnership with Yokohama.

The Nike deal will mean the Blues can flex their muscles in the summer transfer window despite being in neither the Champions League nor the Europa League next season.

Doubling the kit sponsorship income they receive will give Chelsea an extra £30m-a-year breathing space when it comes to Financial Fair Play.

Incoming manager Antonio Conte will be pleased with the deal as he looks to overhaul the squad this summer.

The Italian is looking to sign at least three first-team players to help lead Chelsea’s title challenge next campaign.

The Blues have been dismal this season, finishing in 10th place, a massive 31 points behind champions Leicester.

But £60 million every season will help allow Chelsea to continue competing at the top end of the transfer market despite failing to qualify for the Champions League.

It is also reported that leaving their Adidas deal six years early will cost Chelsea an estimated £40million in compensation.

But the new deal would make it worth their while.

Nike are believed to have been keen on securing a deal with one of the Premier League’s London clubs after severing their ties with Arsenal in 2014.

Chelsea’s kit deal would be the second-largest in Europe, falling behind Manchester United’s £75 million-a-year contract with Adidas.

It would be double what Arsenal earn from Puma and three times what Manchester City earn from Nike — although Pep Guardiola’s arrival could spark a renegotiation. — The Daily Star.