Juan Mata has finally agreed to a new contract with Valencia after widespread interest in his services.
The 21-year-old has received a significant increase in salary but the length of the contract has not been extended while the minimum release fee clause remains the same of 90million Euros.
The deal means that the winger is still contracted to the club until 2012 so clubs reportedly interested, including Liverpool and Barcelona, are likely to continue to monitor the situation.
However, after two impressive seasons since breaking into the Valencia side in 2007 the club have been keen to tie Mata down to a longer deal but talks have recently stalled as a result of the club's perilous financial position.
"This is the price for the excellent two seasons that the kid is developing at the club," Mata's father and agent Juan Manuel said.
"We are satisfied after the last meetings."
Sporting director Fernando Gomez was quick to play down any notion that Mata would soon be leaving the Mestalla.
"We have not received any formal propositions. I do not say that will be the same in the future," he said.
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