Atletico Madrid have reportedly agreed to reduce manager Diego Simeone's contract at the club by two years, from 2020 to 2018.
The agreement comes after discussions between representatives of the Argentine and the club, which has also seen a pay-rise for the manager, according to reports in both AS and Marca.
Atletico chief Miguel Angel Gil Marin reluctantly agreed to the terms after Simeone had stated his intentions to leave the Spanish capital after last season's Champions League final defeat to Real Madrid on penalties.
Gil Marin, in an attempt to calm the situation, reportedly agreed that the 46-year-old's long-term deal at the Calderon would be reduced and his pay would increase but in return, he would be tied down to the club for at least two more seasons.
There had been reported sustained interest from PSG and Inter Milan for the manager's services, but his buyout fee reportedly made sure any deal was unlikely.