Representatives of the Londoners have held a series of meetings with Costa’s camp over the last month and further talks are planned around the Champions League semi-final first-leg clash between the two teams.
Terry has excelled this season for title-chasing Chelsea, making 32 league appearances in the centre of a defence that is the tightest in the division with 24 goals conceded in 34 games.
The 33-year-old has reportedly been offered a new deal by the West London club but on half his current wage.
Liverpool trio Luis Suarez, Steven Gerrard and Daniel Sturridge have been nominated for the Professional Footballers’ Association’s player of the year award.
Manchester City midfielder Yaya Toure, winger Eden Hazard of Chelsea and Southampton playmaker Adam Lallana complete the list.
Sturridge and Hazard have also been nominated for the young player award, along with Liverpool’s Raheem Sterling, Arsenal’s Aaron Ramsey, Everton’s Ross Barkley and Southampton’s Luke Shaw.
Wayne Rooney has been cleared to play against his Former Team Everton having fully recovered from his Toe injury. Wazza was part of the united team that lost out of the champions league to Bayern Munich at the Allainz Arena and has had a full week to recover from his Toe injury to play for former Everton manager David Moyes.