Schwarzer, 42, played 12 times for Chelsea last season as backup to Petr Cech, but has only been an unused substitute four times this season.
Valencia earned a valuable 1-1 draw at Chelsea on Wednesday in a combative first leg of their Champions League quarter-final.
Frank Lampard scored Chelsea's winner in a 1-0 pre-season victory over Feyenoord.
The Chelsea captain's last ditch tackles and positional sense have been complemented by a decent eye for goal.
The 33-year-old came out of retirement after Petr Cech's long-term injury.
After being declared bankrupt in May, former England and Kerala Blasters marquee player David James is now forced into auctioning signed shirts, shorts and match balls.
List of major transfers in the top Premier League ahead of the 2019-20 season (all transfer fees as reported by British media):
Alexis Sanchez and Olivier Giroud were on target as Arsenal won 2-0 at Southampton on Wednesday to move up to fifth in the Premier League and fuel their hopes of a late push for the top four.
The Spanish champions went through on 3-2 aggregate after the second leg pre-quarter-final ended 1-1. Juventus and Villarreal also made it to the quarter-finals.
Barcelona earned a valuable 2-1 away win at Chelsea, with the home side playing most of the match with only 10 men.
Alexandre Lacazette's free-kick sent Arsenal into the Europa League semi-finals with a comfortable 1-0 win away over Napoli, while Chelsea beat Slavia Prague 4-3 in a roller-coaster game, helped by a Pedro brace.
Thousands of Chelsea fans turning out in west London to celebrate winning the Premier League title on Monday were told to prepare for more success next season by manager Jose Mourinho.
The Juventus playmaker won the award for the fourth time.
Arsenal scored twice in the opening seven minutes and ended the match as a contest with a third in the 19th as they crushed Manchester United 3-0 to move above them into second place in the Premier League at the Emirates on Sunday.
Manchester City went 11 points clear with a record 14th consecutive Premier League win in an entertaining derby against Manchester United at Old Trafford.
Referee Graham Poll has defended his decision to allow Arsenal striker Thierry Henry to score with a quick free kick in the champions' 2-2 draw with leaders Chelsea at Highbury on Sunday.
The English champions-elect, 4-2 up from the first leg, went through 6-5 on aggregate in the Champions League.
An 85th minute goal from a free kick by Ireland winger Damien Duff gave Chelsea a 2-1 victory over Manchester United.
Arsenal kept alive their slim hopes of securing a Champions League spot next season with a 2-1 Premier League victory at Middlesbrough on Monday that left the hosts in deep danger of relegation.
Eden Hazard and Fernando Torres applied the gloss to a workmanlike 2-0 victory at Hull City that lifted Chelsea ominously to the top of the Premier League on Saturday.
Southampton suffered an embarrassing 1-0 League Cup quarter-final defeat at third tier Sheffield United on Tuesday while Chelsea powered through with a 3-1 win at Derby County.
News of all that's transpired on and off the football field
Spain coach Vicente del Bosque has no time for mind games and is wary of a suggestion from his opposite number that Turkey will play for a draw against them in Friday's Euro 2016 match. Turkey coach Fatih Terim said earlier on Thursday that he would be satisfied with a point from the Group D match against the European champions, but Del Bosque was not convinced.
Arsenal re-established themselves as serious contenders for their first Premier League title since 2004 with a comfortable victory at lowly Bournemouth on Sunday.
Despite a splurge of summer spending of more than 500 million pounds and counting, it was a free transfer from France who provided one of the standout moments of the Premier League's big kickoff.
The half court challenge allows a player five attempts to make a basket from a distance of 47ft (half court).
Arsenal had scored 10 goals in two matches against BATE Borisov in the same competition in 2017 but never looked like being as prolific in the freezing temperatures of Belarus.
On the final day of matches in the English Premier League, Chelsea, who finished the season with 87 points after beating Sunderland 3-1 at Stamford Bridge on Sunday, lifted the trophy on Sunday.
Arsenal scored twice in three minutes through a deflected Granit Xhaka strike and Danny Welbeck's header to claim a deserved 2-0 win over Manchester United on Sunday and inflict a first Premier League defeat on the visitors in 26 games.
FA Cup added another incredible chapter to its proud heritage on Saturday as Chelsea and Manchester City were humbled by supposed inferiors.
FA Cup winners Arsenal beat champions Chelsea 1-0 in England's Community Shield season curtain-raiser at Wembley on Sunday to end a long wait for victory over their London rivals.
Chelsea have signed Stoke City's Bosnian international goalkeeper Asmir Begovic on a four-year contract, the Premier League champions confirmed on Monday.
Chelsea boss Jose Mourinho has no plans to let any of his English Premier League title-winning squad depart Stamford Bridge in the close season.
Jose Mourinho will receive a third Premier League winners' medal on Sunday but the Chelsea manager is not feeling so charitable this time .
The Londoners are fourth in the Premier League table, 13 points behind leaders Leicester City with five games left.
Santi Cazorla scored a 94th-minute penalty as sub-par Arsenal beat Southampton on Saturday with Laurent Koscielny's overhead kick having earlier cancelled out Petr Cech's own goal.
Images from Sunday's action at the Australian Open, in Melbourne.
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