Chelsea are making Ashley Cole the best paid defender in the game.

The Daily Mail says Cole has become the highest paid defender in world football after negotiating a one-year contract worth just under £200,000 a week.

Chelsea expect to announce the contract extension ahead of Wednesday's Capital One Cup semi-final against Swansea, but the deal has been agreed.

Chelsea have agreed to a pay hike for the England defender, 32, because it would have cost them well in excess of £15million to secure a replacement left back of similar quality in the summer.

The failure of Ryan Bertrand to progress this season convinced Chelsea owner Roman Abramovich to authorise the extension.