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Published 14:58 11 Feb 2016 GMT
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The former England captain has clearly stated that he does not see himself finishing his playing career with the Blues but believes that he still has a couple of years left in him and that he still feels on top of his game.
So where next for Terry?
Well we know for sure that he wont be moving to one of Chelsea's direct Premier League rivals. Recently he confirmed this: "No, I couldn't do that to the Chelsea fans. I couldn't play for another Premier League club."
Here's what we reckon are the four most likely destinations for the 'one club man'.
Recently he said 'he feels in great nick' and his solid performances certainly back that up.
It would come as a shock if some European powerhouses aren't interested in procuring Terry's services when he becomes available.
His free agent status will only add to his appeal and that, together with his current form, vast experience and leadership qualities make him a very attractive acquisition for some of Europe's big boys.
Clubs like Sevilla and Roma could do a lot worse than bringing Terry on board.
Both clubs are doing reasonably well in their respective leagues, are challenging for Champions League football and are typically good going forward but may need strengthening at the back.
Terry's experience in Europe would be an enticing proposition to either of these two clubs. If Roma is his next port of call, here's hoping he's more popular than former teammate Ashley Cole.
This would be the most likely place for JT to end up.
As most of us know, recent years have seen MLS become a European footballer's retirement home.
Many big-name European players have chosen to end their careers playing for one of the American franchises. This includes the likes of Andrea Pirlo, David Villa, Thierry Henry and many more including former teammates of Terry such as Frank Lampard (New York City), Ashley Cole (LA Galaxy) and Didier Drogba (Montreal Impact).
The pay would be good, the standard of football would be decent and the lifestyle would be attractive for Terry and his family.
Clubs like DC United, FC Dallas, San Jose Earthquakes and New England Revolution would all be willing to splash the cash on Terry and they have plenty of roster spots left so the deal would run relatively smoothly.
Another possibility has opened up for European players in recent weeks, the Chinese Super League. The reason many players are making the move is simple. Money, money and did I mention money?
There's so much money in the league because Chinese president Xi Jingping is a fanatical football supporter and wants China's national team to benefit from having a strong domestic league. He wants China to host the World Cup soon (before the economy completely implodes).
Former Chelsea player Ramires moved to Jiangsu Suning and is currently on £10m a year, after tax. Other players who have made the move from Europe include Gervinho, Jackson Martinez and Alex Teixeira.
The very lucrative precedent has been set and if an enticing financial offer came in then who knows? Terry could be lining up for Shanghai Shenhua in the very near future.
It may seem far-fetched but Terry could be joining Al Arabi of the Qatar Stars League.
They could more than afford him because of huge investment from those involved in the oil business. Not to mention the fact that Chelsea legend Gianfranco Zola is the new manager and has said he is eager to bring the veteran to Al Arabi to inject some much-needed experience to the squad.
Players of Xavi's calibre have already made the move to Qatar so it may not be long before we see JT playing in the top tier of Qatar football.Quiz: Can you name every World Cup Golden Ball winner since 1998
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