Michael Ballack, Joe Cole and Nicolas Anelka are all under the spotlight in regard to new contracts.
Word from inside SW6 is that Ballack and Cole who both come to the end of their contracts in July are less than happy at what they feel is insulting terms on offer.
Ballack who will captain Germany in the summer's World Cup is close to rejecting a near 50 per cent pay cut to remain at Stamford Bridge.
It was believed that the German was looking for a one-year rolling deal worth around his present salary rumoued to be in the region of £120k per week.
Talks between his representatives and the club may eventually see a two-year deal at significantly reduced terms being agreed.
Joe Cole is a different kettle of fish altogether. While Ballack is close to the end of his careeer, Cole is looking for thr last "big" deal of his career.
Chelsea are hoping his love of life at Stamford Bridge will persuade him to accept a lower than desired deal.
But with the prospect of falling down the pecking order under Carlo Ancelotti, Cole is seriously thinking about his future which may be away from his buddies in Blue.
Arsenal and Manchester United are keeping a firm eye on the situation. They know Cole would prefere to stay at Chelsea and are waiting to see what happens. If Cole makes it known he is rejecting Chelsea's offer - and that final decision will come within two weeks, then they will pounce.
Cole is due to become a father shortly and he is keen to stay in London. This would give Arsenal the advantage. Spurs will also enter the fray, but not until they unload a couple of players and that might take until the end of the World Cup.
It's all about timing and that's what Anelka is looking to. His contract does not end until 2012 But he's looking to bed down a new deal also.
All the players representatives know that football is about to enter a long period of uncertainty and that's why they are trying to strike good deals now.
Clubs want to reduce their wages while players are tryin to cut the best deal possible.
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