LONDON -- Michael Essien signed a £90,000-a-week ($174,000-a-week), five-year contract on Monday that will keep him at Chelsea through 2012.

The 24-year-old utility player is in his second season at Stamford Bridge. He has played in all but one match this season, making a total of 46 appearances in a variety of positions in both midfield and defense.

"It didn't take me long to decide to sign," Essien said. "I am really happy because I came here to stay a long time. I really work hard in training and do everything to succeed. I have the ambition to win a lot of trophies for the club."

Essien joined the Blues from Lyon in 2005 for what was then a club-record fee, reported to be $47 million, and helped the club win its second Premier League championship in a row.

Chelsea is currently in second place, nine points behind Manchester United, but still in contention in the FA Cup and Champions League.

Kenyon delighted

"It is great to have somebody like Michael, who has already made a huge contribution, commit for another five years," Chelsea chief executive Peter Kenyon said. "We spent a summer getting him, it wasn't easy, and it is nice to be on the next step."
He added: "He is a big star back in Ghana and is a key man in Chelsea as well."
Negotiations with Terry are reported to have collapsed over the length of the deal and his pay demands while Lampard is understood to want his situation sorted out sooner rather than later.