Chelsea striker Joao Pedro has signed a new contract extending his stay at the club until 2034.
The 24-year-old Brazil international joined from Brighton last summer in a deal worth an initial £55m, plus £5m in add-ons.
He scored 20 goals in all competitions during his first season at the club, playing a key role in Chelsea’s Club World Cup success.
“I am very happy to sign a new contract with Chelsea,” Joao Pedro said.
“I always dreamed of playing for a big club, and it means a lot to me to give my long-term commitment to this club. Chelsea has a long tradition of winning and it has big ambitions for the future.
“Everyone is very excited for this season. We know we can achieve a lot of things, we have a great team, we have a coach who wants to win and has won already.”
When he originally signed for the club, his contract was announced as running until 2033.
However, that deal actually ran until 2032 with an option for one further year.
Chelsea typically include those club options when stating the length of a player’s contract in official announcements.
Therefore, Joao Pedro’s new deal has been announced as keeping him at the club until 2034, despite the deal itself running until 2032 with a further two-year option.
In reality, Chelsea have extended his contract on improved terms rather than reducing it.
The strategy is not only designed to protect their investment – Barcelona have shown interest in the striker – but it also serves as a reward for his strong performances.
Chelsea operate a strict wage structure, but are keen to incentivize strong performances by allowing players to move up wage bands.
They did so with Cole Palmer after his impressive form and also with Nicolas Jackson, who moved from an entry-level salary to a more established wage bracket after joining from Villarreal.
Last season, Joao Pedro became the first Chelsea striker since Diego Costa to score 20 goals in a campaign without taking penalties.
He also netted three times during Chelsea’s Club World Cup-winning campaign last summer and has scored eight goals in seven pre-season matches.
He is likely to start Chelsea’s Premier League opener against Fulham on Monday, with new signings Danny Welbeck and Emmanuel Emegha expected to provide cover this season.
His success has earned him the number nine shirt, with Liam Delap relinquishing it.
Delap is available for transfer for around £50m and is attracting interest from Nottingham Forest and Leeds United.
Chelsea intend to hand out a number of new contracts to key players after the transfer window closes, with Levi Colwill and Estevao Willian among those likely to be rewarded.
