The successful Argentine coach has decided to sign a renewal with the reigning Spanish champions for three additional seasons
Atletico Madrid have reached an agreement with Diego Simeone over a new contract that will keep him at the club until 2020.
The 44-year-old's previous deal with the Vicente Calderon side was due to expire in the summer of 2017 and a number of clubs were allegedly keeping a close eye on his situation in the Spanish capital, including Paris Saint-Germain.
However, Simeone has now ended all speculation about his future by agreeing a three-year extension.
"This is a very important moment. The club has shown faith in the staff and I really appreciate this," Simeone commented at a press conference.
"I want to thank all the players, both the ones who have left the club and those who opted to stay put. This would not have been possible without them.
"We are all looking forward to the new stadium and it is a great prospect to be part of the opening.
"I chose to be here at Atletico because I believe the club will keep developing. We all hope to enjoy as much success as in recent years."
The successful coach joined Atleti from Racing in December 2011, succeeding Gregorio Manzano, and has since turned the Calderon side into a force to be reckoned with again.
Simeone guided the Madrid side to Europa League glory in his first season in charge, followed by the European Supercup and Copa del Rey in his second year in charge, only to then go on and beat Barcelona and Real Madrid to the Liga title in 2013-14 and win the Spanish Supercup this term.
Atletico currently sit fourth in the Liga table, while they are still in the race to win the Champions League, too, having been paired with arch-rivals Real Madrid in the quarter-finals.
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