Chelsea set to open talks with Reece James over new long-term deal amid transfer interest from Man City and Real Madrid

CHELSEA are preparing to begin talks with defender Reece James over a new contract, according to reports.

The 22-year-old right-back still has three years left on his existing deal - which he signed in January 2020.

But the Blues are keen to pin him down for the long-term future given he is now one of the best full-backs in the world.

According to , Chelsea want to secure a deal until his late 20s.

And they could entice him to pledge his future to Stamford Bridge by offering him an increase to his £80,000-a-week wages.

New owner Todd Boehly, who took over from Roman Abramovich, is said to be a "huge admirer" of James.

Talks over a new deal for James and fellow England international Mason Mount were parked when Chelsea were subjected to financial restrictions following Russia's invasion of Ukraine.

But now they are hoping to reignite discussions with James in the "next few weeks" amid interest from Manchester City and Real Madrid.

He first started training with Chelsea at just six years of age.

Manager Thomas Tuchel will be keen to keep hold of his versatile defender for the foreseeable future as he looks to build a squad capable of competing for the Premier League title.

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The Blues lost centre-backs Antonio Rudiger and Andreas Christensen at the end of the season.

And Romelu Lukaku has returned to Inter Milan just one season after re-joining Chelsea for a club record £97.5million.

However, they have agreed personal terms to bring in Man City and England forward Raheem Sterling in a £50m deal.

And they are being linked with a host of other star players including Cristiano Ronaldo, Neymar and Matthijs de Ligt.