Chelsea midfielder Michael Ballack is set to take a massive pay-cut to stay on next season.

The Sun says Chelsea have offered the Germany captain a new deal - at HALF his current £121,000-a-week wages.

The offer is for one year only with the option of another which has to be agreed by both parties. It also includes a clause which makes the basic salary dependent on appearances - as there is an incremental rise to £80k a week if he plays in 20 games.