Chelsea should have sold Olivier Giroud in January, I think around that time a few clubs were interested in signing the French man(and he wasn't getting playing time). Extending his contract now is the only way to ensure that Chelsea will get some money from him when they eventually sell him, because I'm sure Giroud doesn't have any chance in Chelsea anymore, Abraham is preferred to him, and he is 33 years of age, Chelsea will be interested in a younger striker for sure.
Giroud is still likely to leave Chelsea in the upcoming transfer window, especially if Frank Lampard team bring in a new striker. But the steps taken by Chelsea were also carried out with the aim of blocking the potential for players with the number 18 jersey to join Tottenham Hotspur who can bring it for free if there is no contract extension.
I know it is not really all that common for the big clubs to not find buyers for their players but it is still an option plus with corona going on and all it might get even harder. When you sign someone that old, you are risking paying him for another year without using them at all and maybe nobody will buy him. Although I am sure they will find some place that will take him, even if it is only covering his fee they paid so far plus the agent fee and so forth, they will eventually find someone to get him.
Chelsea may not get a player a lot younger and around the same talent and around the same price, if a player is talented and young they are usually very expensive and since the leagues are closed for now they missed a lot of revenue as well, so they are probably trying to make a dime anywhere they can.
