Ashley Cole has agreed to sign a new contract at Chelsea, it is understood.

Cole is out of contract at the end of the season and was expected to leave Stamford Bridge, but the 32-year-old is set to snub the overtures of Real Madrid and Paris St Germain by committing his future to his current club.

Press Association Sport understands the England defender has agreed to put pen-to-paper on a contract extension and both parties expect the paperwork to be signed off in the next 48 hours.

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