Romanian defender Cristian Chivu has agreed to extend his stay at the San Siro by agreeing a new contract with Inter Milan. It was widely expected that the 31-year-old defender will be one of the big names to depart Inter Milan in the summer after they missed out on the opportunity to play in the Champions League next season.

After a very poor start to the season, Inter Milan finished the season in the sixth position meaning that they would not play in the Champions League next season. Due to the mounting debts and spiralling wage problems, the club was not expected to handle the loss of at least £ 30 million in revenue through the Champions League.

Hence, Cristian Chivu was one among the many names expected to depart the club. The Romanian defender was out of contract at the end of this season, with many clubs including the likes of Ajax and Real Madrid showing interest in the versatile player. Cristian Chivu was a £ 16 million signing from Roma a few seasons ago. He has turned out to be one of the best defenders in the Italian Serie A and Inter Milan will certainly be extremely happy that he has agreed to a new deal with the club.

“We have reached an agreement with Inter for the renewal. Everyone thought that Chivu would leave, but they called us in at Inter and we have reached this agreement. Chivu will renew for three years at €3m a season, the agreement is final,” said his agent Victor Becali. Even spectacular is the fact that Cristian Chivu has decided to take a pay cut in order to come to an agreement with Inter Milan. This pay cut is in force due to the fact that Inter Milan will not have Champions League football next season.