John Terry has signed a new contract with Chelsea, which will tie him to the Premier League club until the summer of 2014.
The skipper had been tipped to join Manchester City over the course of the summer, with Mark Hughes' side having two bids rejected. He eventually committed his future to the club.
Newspaper reports have suggested the new deal will put the England international on £160,000-a-week, making him one of the highest paid players in the English game.
A club statement read: "Chelsea are delighted to confirm that John Terry has signed a new five-year contract that keeps him at the club until the end of the 2013-14 season.
"This reaffirms both John's and Chelsea's long-stated desire for him to be at Stamford Bridge for the rest of his playing career.''
Terry's contract was due to expire in the summer of 2011, and this new deal will take him to the age of 33.
He has made 276 appearances in 12 seasons at Stamford Bridge and has won 54 England caps since 2003.