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But Chelsea say they will consider offering fans favourite Zola a two-year coaching deal to ensure that he stays at Stamford Bridge.
Hutchinson said: "He has always maintained to me that he will stop playing when he is no longer giving value for money.
"He has not yet made any decision as far as his last season is concerned. He will do so over the next few months but he is such an ultra-professional that he wants to go out at the top.
"At the end of his playing contract, or if he should stop playing before then, there is clause for him to stay on in a capacity as yet to be defined - be it coaching or whatever else."