Ranieri signs new deal

They deal, announced on Friday night, will keep the Italian at Stamford Bridge until 2007. Initial reports suggested that Ken Bates had offered to extend Ranieri's contract until 2005 but these talks were then halted when it was thought that Barcelona had contacted Ranieri about the possibility of him becoming manager in the summer. But Bates countered Barca's offer by offering Ranieri the chance to manage the club until 2007. Talking about the new deal for Ranieri on Chelsea TV, Ken Bates said "'It is far easier to look to the short term than the long term but this is not what we want do at Chelsea. We are delighted to be able to give Claudio the chance to plan for the future without constantly looking over his shoulder."

Ranieri revealed his relief at having signed the new deal when he said, "All I think about is working well for Chelsea. Now I want to give the club a trophy. It will be hard but this is what I will be trying to do."

The 48-year-old Italian replaced Gianluca Vialli as manager in September 2000. Despite failing to win a trophy with the club, Ranieri guided the Blues to the League Cup semi final, which we lost to Spurs, and the FA Cup semi final against Fulham, which is played tomorrow at Villa Park. The club also has a chance to qualify for the Champions League.