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Chelsea and Islam Feruz have reached an agreement on a new contract, according to Sky Sports. The report claims that the new deal will see the Scottish youth international remain with the Blues until 2018, and is a good sign that they hold his performances for the U21 side in high regard.
Feruz has been with the club since 2011, and is probably beginning to push for a loan spell to further his development. A move in January is certainly possible, but it wouldn't surprise me at all to see the player remain with Chelsea until the summer.
The youngster's previous deal was down to just a year and a half left to run, so Chelsea have essentially given him a three year extension. The deal likely includes a raise as well, and Chelsea were reportedly paid him £2,500 per week when they originally lured him from Celtic.