The 28-year-old goalkeeper has played regularly for Barcelona since he joined the Spanish giants from Bundesliga outfit Borussia Monchengladbach in 2014.
Ter Stegen’s current contract with the Blaugrana runs out in the summer of 2022, but the Germany international has been keen to extend the deal.
And now, the goalkeeper is set to put pen to paper on a new contract with Barcelona that will keep him at the Camp Nou until the summer of 2025.
However, a number of clubs, including Chelsea, tried to convince Ter Stegen to reject a new contract at Barcelona, according to Spanish daily Mundo Deportivo.
Chelsea, along with Italian giants Juventus and Inter, made attempts to persuade the former Borussia Monchengladbach star to not sign a new deal with the Catalan club.
The Blues, as well as the Serie A clubs, appear to have suffered a defeat in their attempts to convince Ter Stegen not to commit his future to the Camp Nou outfit.
It has been claimed that the goalkeeper will accept an initial pay cut, considering the current climate, before eventually earning more over the duration of the contract.