According to The Sun, Rio has 16 months left on his current agreement and is working on a fresh four-year deal.
Ferdinand, 29, said: “We are on the cusp of something very good. I"ve been here through a transitional period and I can see the fruits beginning to ripen. We have a strong bond and a great bunch of players ready to achieve."
Ferdinand, who currently earns 110,000 pounds a week, added: “We"ve done a lot on the training pitch and the manager has worked tirelessly to bring in the right players. So we"re in a position to strike."