Real Madrid fullback Salgado closer to Chelsea

Chelsea are said to have agreed terms with Real Madrid fullback Michel Salgado.

Spanish radio station, Cadena Ser, stated yesterday that Salgado had been offered a five-year contract worth £2.6m a year after tax. He would also receive a signing-on fee of £2.6m.

But the defender's agent, Gines Carvajal, insisted: "Because negotiations with Madrid have encountered some difficulties these kind of stories are bound to emerge, but it's not true at all."

"Seeing Roman Abramovich is the only one with any money, people immediately assume everyone is going to Chelsea - they even said Zidane was going. I assume Madrid will make a statement soon and we will wait for that."

Real president Florentino Perez said, "If we get to the end of this week without an agreement, discussions will be put on hold until May."

"But it is true that if we do not agree before the end of this week it's difficult to see the player stay."

"We have made the biggest possible effort to make sure Salgado stays because we are convinced of his worth on the pitch but if he were to receive a bigger offer we would understand if he left."

"Real Madrid cannot offer every player what other clubs can - if we did we would have no budget left. Players must balance that against what we offer in sporting terms. Zidane and Beckham lost money to come because of what we offer in football terms."