By Chelsea correspondent Tony Hughes

Branislav Ivanovic has signed a one-year contract extension with Chelsea, the club announced on Friday afternoon.

The long-serving defender has put pen to paper on a deal that will keep him at Stamford Bridge until the June 2017.

His previous contract was due to expire this summer and he was free to sign a pre-contract with foreign clubs from this month ahead of a transfer at the end of the season.

But, as revealed by Football Insider earlier this week Ivanovic has agreed the terms of a £75,000-a-week extension is worth £3.9million in total.

Negotiations between the right-back and the club began last year, with Ivanovic keen on a contract that would run until 2018 but Chelsea have stuck to their policy of handing one-year deals to players over 30.

Ivanovic said: “I am very happy to stay with Chelsea for another season. After eight years this is my home and there is no other place I’d rather play football.

I have enjoyed so much success since moving to the club and I am determined to help the team achieve more in the last months of this season and next year as well.’

The Serbian defender, who turned 31 in February, has been has been a mainstay of the Chelsea backline since signing from Lokomotiv Moscow in 2008 and started all 38 of the team’s Premier League matches in their title-winning campaign last season.

Like many of his colleagues, Ivanovic’s form has dipped well below those standards this season but he has still maintained his regular place, starting 23 matches including 18 of the Londoners’ 22 Premier League games.