Callum Hudson-Odoi is set to sign a new five-year contract with Chelsea which could see him earn close to £200,000 per week.

The teenager's future has been the subject of much speculation in recent months. He has entered the final year of his current deal, and it is believed that Bayern Munich are eager to lure him away on a free transfer next summer.

However, according to the ​Daily Mail, ​Bayern won't have the chance to do so as Hudson-Odoi is ready to commit his long-term future to Frank Lampard's ​Chelsea.

Negotiations have been lengthy, and minor details have held up an agreement, but it is thought that both parties will soon be ready to confirm the contract, which will see Hudson-Odoi pick up a base wage of £180,000 per week.

He also stands to earn an additional £20,000 each week in performance-related bonuses, which could take his earnings up towards the £200,000-a-week mark.

The 18-year-old enjoyed a breakout season last term, making 24 appearances and earning a call-up to the senior England squad, before an Achilles tendon injury ended his season early.