Real Madrid defender Pepe is believed to be stalling on a new contract as a result of interest been shown in him by Chelsea. His contract is set to expire in 2012 meaning if Madrid want to recoup a decent transfer fee they'll have to sell him this summer. Roman Abramovich see Pepe as the perfect replacement for the aging John Terry who turns 31 later this year. The Russian billionaire has sanctioned another spending spree after the London club went through a dire run of form in the league. The Oligarch sees the small, aging squad as the main hurdle in his quest for European glory.
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