Chelsea have told John Terry he must accept a 50% pay cut on his £150,000-a-week wages if he wants to stay next season, reports the Daily Mirror.
The Blues skipper is in the final few months of his lucrative five-year deal, signed in the summer of 2009 and looked in good shape to earn himself an extension.
However, despite the fact that Terry has rekindled some of his best form this season, Chelsea are unwilling to keep paying him the huge figure and are offering him a on-year deal worth £75,000-a-week for next season.
The 33-year-old, who is a living legend at the west London club, has captained Chelsea ever since Mourinho took over in 2004, but now his future looks in doubt as it remains to be seen if he will accept such a substantial pay cut.
A number of clubs, including Galatasaray have already offered Terry huge deals to turn his back on Chelsea, leaving Terry with a massive dilemma.
Mourinho has told Chelsea officials that he wants Terry to be captaining the team next season but they are keen to cut the wages to fall in line with Uefa's financial fair play and won't budge on their offer.
The same fate is likely to befall on Ashley Cole and Frank Lampard, both of whom are out of contract in the summer and still earn well over £100,000-a-week.
Cole has lost his place to Cesar Azpilicueta while Lampard has been used sparingly by Mourinho throughout the course of the season.
Lampard has been linked with a move to the MLS in recent months and came close to joining LA Galaxy last summer.