Rio Ferdinand's salary could be reduced by as much as 50 thousand pounds in a week

Manchester United defender Rio Ferdinand began negotiations with the Club over a new contract.

Club owners have offered the player to sign an agreement until 2014, with a significant drop in wages – at 50 thousand pounds a week. The current salary of 120 thousand of Ferdinand. A valid contract is due to expire in the summer of 2013 player of the year. 

To Ferdinand now there is interest from clubs from the United States, Russia and China, but he prefers to stay at United, reports Goal.com.