Victor Valdes has put pen to paper on a new contract at Barcelona that will keep him at the club until 2014.
The 27-year-old goalkeeper reached an agreement with the Catalan outfit, where he has spent his entire career. The new deal will see his salary improve and his buy-out clause increase to $209 million.
With his previous deal set to expire next summer, Valdes was linked with several clubs but his first choice was always to remain at Barcelona.
"I am very happy and very satisfied," he was quoted as saying by the club's official Web site. "For me, it is an honor to be able to defend the Barca colors every day. It is like a dream come true, among things, to know I can retire at the club. The most important thing is the years that I spend here, along with my colleagues, and trying to achieve big things, like we did this season.
"The most important thing is to repeat titles. I am happy to stay for many more years with the club I love."