Why Chelsea Couldn't Afford to Drag out Eden Hazard's Contract Extension

Jose Mourinho has been searching for the players around whom he will build his new Chelsea, and now he's found his star.

On Thursday, the club announced that midfielder Eden Hazard signed a five-and-a-half-year contract extension, giving Mourinho the security he needed to make the Belgian the focal point of his new Chelsea.

Now the doubts will subside and those rival clubs who were courting him will have to look elsewhere. According to Colin Harvey of the Daily Star, Real Madrid was one of these clubs that were interested in the Belgium international's services.

With Hazard's new deal, the future of Chelsea begins now.

It's a great deal—for the club and player, who is now reportedly earning £200,000 per week, according to Sami Mokbel of the Daily Mail.

That's a cool £57 million if he sees it through until 2020, when the contract will expire.

The big question is whether or not Hazard is worth that sort of investment.

Answer: Of course he is.

Here is a player whose performance level rarely drops. He's the man who makes things happen for the Blues, and now Mourinho has him for the foreseeable future.

Players of Hazard's ability are a rare commodity—he scores goals, makes them and drives fear into the opposition. He gives Chelsea the attacking dynamo they need.

Hazard's work rate is incredible, and when it comes to his character, few can question his commitment to becoming one of the world's finest talents—an ambition he is well on his way to realising.

Rui Vieira/Associated Press

If Chelsea hadn't moved heaven and Earth to extend his deal—which they have, given the salary Hazard will now be paid—the club would have been forced to spend the kind of money they're paying Hazard to replace him.

The transfers of Gareth Bale, Luis Suarez and Angel Di Maria in recent times tell us that. When clubs have exceptional attackers of that ilk, they do not let them go without a fight. And once they do leave, the clubs have to spend in excess to replace their production.

Chelsea would have paid a premium, so it's the right move to invest in a player who has realised his potential while at the club.

It sends out the right message to Hazard's team-mates: Work hard, prove yourself, remain loyal and the club will stand by you.

Signed by Chelsea for £32 million in 2012, Hazard has made significant progress since, which must leave former club Lille feeling a little shortchanged.

He's a player whose value is probably double that now, yet with his new deal, any interested clubs will have to break the £100 million barrier to even tempt Chelsea to sell.

Given the contract Hazard is on, it makes it difficult for his head to be turned by the promise of even more riches, too.

With the value Chelsea have put on him, the club is holding all the cards.

The exciting aspect of this deal is where it leaves Chelsea for the future.

Real have Cristiano Ronaldo. Barcelona have Lionel Messi. They're exceptional players, but Ronaldo is on the wrong side of 30 and Messi turns 28 in June.

Clive Mason/Getty Images

At 24, Hazard's youth leaves him perfectly placed to take over the mantle from those two greats. Rather than fishing in open waters for the next big thing, Chelsea have him tied down to play out the best years of his career in their colours.

Mourinho hasn't shied away from outlining his vision for the future: He wants to create a dynasty.

The manager wants to be at Chelsea for a decade and knows what will help him fulfill that desire: trophies.

To achieve that, he needs the best players, and as far as predictions go, it isn't too far-fetched to predict Hazard is going to be the best.

Chelsea have acted swiftly to keep him at the club. There won't be any Raheem Sterling-esque headlines following the club around for the next few weeks and months. The Guardian's Gerard Meagher reported in late January that Sterling was "stalling over a new Liverpool contract."

The only speculation surrounding Hazard now is how many trophies he can win at Stamford Bridge.

Garry Hayes is Bleacher Report's lead Chelsea correspondent. All quotes were obtained firsthand unless otherwise noted. Follow him on Twitter @garryhayes.