Ruben Loftus-Cheek is in the final stages of talks with Chelsea over a lucrative new long-term contract, sources have told ESPN FC.
The deal will run until at least 2024 and see Loftus-Cheek's wages rise from £60,000-a-week to around £150,000-a-week once bonuses are factored in, and there is optimism on all sides that the 23-year-old will be in position to sign the paperwork soon.
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Loftus-Cheek is expected to miss at least the first half of the new season as he recovers from the ruptured Achilles he suffered during a friendly against New England Revolution in May, and the new deal represents a significant statement of faith from Chelsea in his ability to return stronger than ever.
Speaking prior to the injury, Loftus-Cheek had indicated that he was open to discussing a new contract with Chelsea, having established himself as a regular starter under Maurizio Sarri in the final months of last season.
"It's looking good, so there's no reason why I should think about leaving Chelsea," he said, before jokingly adding: "There's no reason for me to leave. If I get a pay rise, that'll be great."
It is hoped Loftus-Cheek will recover to play a key role for Chelsea under Frank Lampard, who is set to be announced as Sarri's successor.
Chelsea are looking to place an emphasis on building a younger team in Lampard's first season as the club navigate a FIFA-imposed transfer ban, with several academy prospects in line to be given opportunities to establish themselves in the first-team squad.
The most pressing contract priority for Chelsea is Callum Hudson-Odoi, who has entered the final year of his deal as he recovers from his own Achilles injury and remains the subject of significant interest from Bayern Munich.