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John Terry cancels 'farewell party' as he weighs up Chelsea deal - sources

LONDON -- John Terry has cancelled a scheduled private party at Stamford Bridge as he continues to weigh up Chelsea's offer of a one-year contract extension, multiple sources have confirmed to ESPN FC.

Reports last week revealed that Terry, determined to play at Stamford Bridge one last time despite being suspended for Chelsea's final two Premier League matches, had been granted free use of the pitch and other stadium facilities by the club to hold a farewell party with friends and family on Monday.

But Chelsea's surprise decision to offer their captain a new one-year deal, announced by the club on Friday, has turned the situation on its head and raised the possibility that Terry's 18-year professional career at Stamford Bridge may yet continue.

Terry revealed on Friday that he needs time to consider a contract he says would require him to accept "a different role," and the 35-year-old stopped short of confirming that he would sign in an emotional speech to Chelsea supporters after Sunday's 1-1 draw with champions Leicester City at Stamford Bridge.

This "different role" is widely reported to include a significant pay cut and the loss of Terry's long-held status as a regular starter at Chelsea.

The 35-year-old's decision is made even more difficult by the presence of lucrative interest from clubs in China and the Middle East, though sources told ESPN FC earlier this month that no MLS clubs have indicated a willingness to offer Terry a designated player contract.

Asked about Terry in his final media conference as Chelsea interim manager on Sunday, Guus Hiddink said: "I'm happy that they are talking. For me it's not good to make speculation. Personally, I hope they manage to come to a solution. Although he is 35, he is still very physically and mentally fit, so he can contribute a lot wherever he wants to play."

Liam is ESPN FC's Chelsea correspondent. Follow him on Twitter: @Liam_Twomey.

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