Everton defender John Stones is set to demand a release clause before accepting a new and improved contract from the Toffees. The England international was at the centre of one of the biggest transfer sagas of the summer with Chelsea having four bids rejected by the Merseyside club in their attempt to sign the defender.

According to the Daily Mail, the young Englishman will demand a £38m release-clause before signing a new deal, after he was denied a move to the Premier League champions in the summer. The Blues are keen on signing the defender and their last bid on deadline day was reportedly the same figure as the clause demanded by Stones' representatives in his new contract.

The Stamford Bridge club's interest was made public by Jose Mourinho, who admitted that the club had submitted bids for the Everton defender but the Merseyside club were adamant that the former Barnsley player will remain with the Goodison Park outfit for the 2015/16 campaign. Bill Kenwright made it very clear that they will not allow the defender to leave the club at any price, which was backed by manager Roberto Martinez.

The report claims that the Spaniard is keen to tie down his biggest star to a new improved deal, despite Stones only signing a new long-term deal last summer. It remains to be seen if the club will accept the player's demands, as according to the Mirror, the reigning Premier League champions will submit a fifth offer during the January transfer window.

Stones is one year into the five-year contract he signed in 2014 earning around £30,000-a-week, but it is believed that the new deal will significantly improve his earnings, with the report claiming that he could double his wages. Manchester United have also shown interest in signing the defender and could hijack Chelsea's move either in January or next summer.