Chelsea chief executive Ron Gourlay has revealed that the Blue have started the process of signing Joe Cole to an extension.

Cole's contract with Chelsea ends at the conclusion of the current campaign and the midfielder recently made a stellar comeback after nine months of rehabbing his knee.

The 27-year-old is keen on extending his stay with the Blues, while Carlo Ancelotti wants Cole to commit long term to the Premier League giants.

Gourlay has confirmed that talks have commenced between the organisation and Cole and he is confident that a new deal will be ironed out sooner than later.

"We are already in discussions with Joe," Gourlay told Chelsea TV.

"The situation is that he is coming to the end of his contract, he is 28-years-old on the day of the Manchester United game and we're entering into the period where Joe is looking to negotiate his new contract.

"That process has started, Joe has made it very clear that he wants to stay with the football club and I'm sure in the coming months we will be able to work something out."

The Premier League leaders are also in the midst of trying to overturn FIFA's ban on acquiring players until 2011, a punishment slapped on the club in September for illegally inducing Gael Kakuta to sign for the club.

Gourlay believes that Chelsea have "a strong case" and, asked about how he is going to influence future transfers, the supremo said: "We have a football club board.

"If there is an opportunity to buy a player who's key to taking us forward and fits in with the team we will decide between the group who's best on a case-by-case situation to deal with that.

"The next five years are going to be very, very challenging. We entered into a 10-year plan, we've set our goals very high, I would like to see us keep playing the exciting football we are doing - I know that's close to the owner's heart - and we've got to win things.

"At boardroom level we've got to continue winning trophies. There is an expectation at Chelsea every time we cross the white line. We are expected to be in the mix in every competition we enter.

"That's how we have positioned ourselves as a football club and that's how we are portrayed. There's a lot of energy around the place and we are in a good position to support the coach and deliver the things we need to deliver."