Newly-promoted Chinese Super League side Tianjin Quanjian FC has recently taken a huge blow to their summer transfer plans after their number one target, Spanish striker Diego Costa, decided to sign a new deal with English Premier League club Chelsea.

Costa, 28, was rumored to be headed to the Far East last month after a reported altercation with Chelsea manager Antonio Conte. It resulted in the Brazil-born Spaniard to sit out some games which led to reports that his future has suddenly become uncertain at the Stamford Bridge.

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Tianjin has reportedly offered Costa around $718,000-a-week in salary during that time to pull off a China switch and the Spaniard said to have seriously considered a move away from England.

However, Costa and Conte have since patched-up their differences and Costa is back playing in the former Italy national team manager's starting XI.

The Daily Express indicated that Costa has "reached an agreement in principle over a new contract" with the Blues in a five-year deal worth $275,000 per week. The said extension would amount to a whopping $71 million for Costa, which could rise up to $81 million "including the potential add-ons" and bonuses.

The new deal will make him the new highest-paid player on the Chelsea roster, leapfrogging compatriot Cesc Fabregas, as per The Sun. It will also take him in the top five highest-paid Premier League players list, which is currently led by Manchester United's Wayne Rooney with a weekly wage of $374,000.

"Is everything calm now? Yes," said Conte in a recent interview. "Diego is a really important player. The situation is very clear. He is very happy to stay with us. He is very happy to fight for the title."

"Will he stay here for a long time? Yes, I think so. I think so. I see him every day and I see his commitment, his behavior is very involved in the team. He loves this club," Conte added.

Chelsea is leading the Premier League race at the moment, eight points ahead of closest pursuer Manchester City in the overall standings.

TagsChinese Super League, Chinese Super League rumors, Chinese Super League rumors 2017, Diego Costa, Chelsea FC, Tianjin Quanjian FC