Ronaldinho rejects Chelsea's offer and stays in Barcelona

Ronaldinho Gaucho is close to signing a millionaire contract that could keep him at FC Barcelona for the rest of his career, until 2014, when he would be 34. The agreement would be for five years with a renewal option each of the next four years.

The deal was reportedly agreed last Wednesday at a dinner between Ronaldinho's agent, his brother Roberto de Assis, Barcelona president Joan Laporta and vice president Ferran Soriano. The new contract only needs to be drawn up and should be signed by Ronaldinho within a few weeks.

According to the new agreement, Ronaldinho's fixed annual salary would rise in increments to euro 6.5 million (US$7.76 million) in 2008, when his current contract expires, and then increase in line with inflation.

The brazilian player would also be paid a variable salary, which depends on the number of matches he plays and the trophies he wins, which would start at an annual euro 4 million (US$4.78 million). He would also receive 5 percent of the sum of his fixed and variable salaries as well as compensation for ceding Barcelona a third of the income from his image rights.