The Scot has been angry that several newspapers reported that he was willing to sell the Englishman this summer after he was dropped against Real Madrid in midweek.
“There is no issue with the contract. When it has to be renegotiated, it will be,’ Ferguson said in The Mail on Sunday.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.