Ashley Cole could leave Chelsea if the club does not meet his £200,000-a-week wage demands.
With Cole's current deal to expire next summer, Chelsea are keen to extend his contract to avoid him leaving on a free transfer.
Cole has recently been linked with a move to ex-Chelsea boss Carlo Ancelotti's Paris Saint-Germain.
"Ancelotti liked Ashley a lot during his time at the Bridge, and would take him now, but PSG have spent an awful of money this summer already, so that isn't likely, for even if they offered quite a big fee Chelsea won't sell him now," a source told ESPN.
"Next summer will be different, but Chelsea have plenty of time to put forward an offer, and if it's the right one than Ashley will sign a new deal at the Bridge. He loves it at Chelsea and ideally wouldn't want to leave, but let's be fair - this will be his last big contract and he is in a commanding position with his current deal expiring in a year."
A £200,000-a-week contract would represent a £70,000-a-week pay rise for Cole.
