The Sun says the England defender is in the final year of his contract and in January could join another club for FREE.
A club insider said: “Mr Abramovich has a rule that anyone over 30 can only be given a one-year extension but it’s madness in Ashley’s case.
“Everyone knows he’s the best left-back in the world.
“He trains hard, really looks after himself and can play at this level for many more years to come. There isn’t a club in the world who wouldn’t want Ashley on a free.”