Chelsea legend John Terry is allegedly set to be offered a one-year contract extension, prolonging his career at Stamford Bridge.
According to the Evening Standard Chelsea are planning to renew Terry's deal which runs out at the end of this season, with the captain keen to finish his career with his boyhood club.
However, considering Chelsea's shambolic title defense this season, are they right to renew a 35-year-old centre-back's contract?
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He's passed his peak
Just seven months after winning his fourth Premier League title, Terry's performances have undoubtedly dipped this season.
From being the best defender in the league last year, Terry was unceremoniously subbed off at half-time in the 3-0 loss to Manchester City back in August, with many deeming this the beginning of the end for the Chelsea captain.
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Differentiating between Jose Mourinho's tactical decisions and his psychological ploys is a tricky business and this may well have been an example of the latter; however, Terry was sent off in Chelsea's next game, their 3-2 win over West Bromwich Albion.
In just 21 league games - Terry has featured in 17 of these - Chelsea have already conceded 34 goals, compared with the 32 they conceded throughout the whole of last season, and the 18 that Mourinho's first title winning side yielded in 2004/5.
Terry is obviously not solely responsible for this; however, as the club captain and regular starting centre-back, he will no doubt be alarmed by Chelsea's increasing defensive frailty.
He still has a lot to offer
Quantifying Terry's full impact on the club is impossible, as an outsider.
With 491 Premier League appearances, Terry has been a mainstay in the Chelsea side since his emergence as an academy graduate in 1998.
To much embarrassment, the Blues academy has not produced a regular first-team player since Terry and the former England captain is part of the fabric of the club.
As captain since Mourinho's arrival in 2004, Terry has led Chelsea through both their most successful and their most disrupted era.
Under the ownership of Roman Abramovich, Terry has experienced nine different Chelsea managers - both Mourinho and current interim boss Guus Hiddink have had two stints - and has become an increasingly important influence in both stabilising and leading the dressing room.
With experienced stalwarts Petr Cech, Didier Drogba and Frank Lampard now no longer playing for the club, Chelsea cannot afford to let Terry's invaluable experience go to waste.
Every team requires leaders and without Terry only Nemanja Matic, Gary Cahill or Branislav Ivanovic could feasibly assume the role of captain; however, all three have been in poor form throughout this season.
He's never had pace
Unlike Rio Ferdinand, Terry has never had to rely on his pace and therefore if his body remains up to it, there is no reason why he cannot keep playing beyond his 36th birthday next month.
"I have never had legs, it's as simple as that. I have never been quick all my career. But physically, I probably feel as good as I've ever felt in the last two or three years."
The captain's sense of anticipation remains and he is still Chelsea's most reliable option in defence.
Chelsea would be foolish to not renew Terry's contract. As a legend of the club, the centre-back deserves the chance to finish his career at Stamford Bridge and more than that still deserves his place in the side.
Chelsea's defensive record has been poor this season but Ivanovic, Cahill and Cezar Azpilicueta have all also been culpable for letting their performance levels drop.
When Terry does retire, he will do so as the finest centre-back in Premier League history and thus merits further faith from his boyhood club.
Do you think Chelsea should renew John Terry's contract? Give your opinion in the comment box below!