And despite that being an increase on his previous contract, Chelsea are set for a financial boost when Hazard's financial fair play cost is calculated.
Uefa's formula for valuing players consists of the yearly instalments being paid to his previous club, along with the annual wage he receives.
FINANCIAL BOOST: Chelsea look set to profit out of Hazard's new deal [GETTY]
Hazard was signed from Lille for £32m in June 2012.
The Telegraph reports that Chelsea agreed to pay the French club £6.4m-a-year over the five years of the deal he signed when joining the club.
Added to the annual wage they paid Hazard, the yearly FFP value of the player was £16.02m.
However, with the player now extending his Chelsea contract, the club's annual payments to Lille will now be spread over a longer period, meaning it will cost them less on a season-by-season basis.
Jake Cohen of LawInSport explained: “It is not widely known outside football accounting that clubs can actually save themselves money in terms of FFP costs by giving their players new contracts, even if they are earning more.
“Although Hazard’s wages have increased from approximately £9.62m a year to £10.4m annually, his FFP ‘book’ value has gone down.
"That’s because his £32m fee was amortised (paid in installments) at £6.4m a year over an initial five-year contract.
"That deal had two-and-a-half years left to run, so the remaining £16m in ‘book’ value was spread out over the new five-and-a-half-year contract Hazard signed in February, decreasing his annual FFP cost from £6.4m to £2.91m.
"So even with the increase in wages, Hazard will cost Chelsea £2.71m less a year in FFP money from this summer.”
source:dailystar
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