MICHAEL Ballack is set to take a wage cut in order to stay a Chelsea player next season.

The free agent is expected to re-sign for the Blues over the next 48 hours if only because no-one else can afford the £120k-a-week currently being pocketed by the German midfielder.

Ballack flew back from Sicily on Wednesday for talks after bonding with Germany's World Cup squad, even though injury prevents the 33-year-old from playing any part in South Africa.

Chelsea are likely to offer a salary down to £100k-a-week - but still miles in front of FC Schalke - the only other concrete offer in front of the man signed from Bayern Munich four years ago.

Ballack said: “I think that I'll continue playing for Chelsea as, in the last few days, I keep getting calls from the club.

“People trying to comfort and inspire me. All of this suggests I'll stay at Chelsea. Also, the coach Carlo Ancelotti always showed confidence in me during the season.”

Chelsea are clearly keen to keep Ballack, not least for his marketing potential – replica shirts bearing his name are among the best selling in world football. It is notable that he was one of three players most prominently featured in the marketing of Chelsea's new home strip – the others being club stalwarts Frank Lampard and John Terry.

Meanwhile, Joe Cole's future hangs in the balance.

Ancelotti wants to wrap up all new contracts by Tuesday - but the club are playing hardball over Cole's demands for an extra £20k-a-week following an indifferent season peppered with injury.

The Paddington-born forward is likely to wait to find if he makes Fabio Capello's final World Cup squad of 23 before deciding on a potential move elsewhere if Chelsea talks break down.

In the unlikely event he does make the trip to South Africa, Cole hopes exposure on the highest stage will secure a contract with a club qualified for the Champions League – though a move abroad is thought unlikely.

The 28-year-old is understood to favour Manchester City, a team already employing former team-mates Shaun Wright- Phillips and Wayne Bridge, over Tottenham.

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