Atletico Madrid boss Diego Simeone has revealed his delight after signing a new long-term deal with the Spanish champions.

The Argentine ended speculation surrounding his future on Tuesday by penning a new contract at the Vicente Calderon that will run until 2020.

"It's an important moment for the club and for the technical team. We've worked hard to secure this stability that we currently have. I have full trust in my staff and they give me the strength to carry on," Simeone said in his official press conference.

"I remember that telephone call in December when I was asked to pick things up. I'd like to thank the club, players, past and present. Without their effort and belief, none of this would ever have been possible.

"Ahead of us we can look forward to a new stadium, there is a great deal of excitement. The club keeps growing. I've made a decision to stay where I am and decisions are sometimes difficult to make in life. Fortunately I've been able to make this decision as I see a club that is moving forward, I see eagerness to grow and people willing to collaborate.

"We all love Atletico Madrid, and we all want to grow together. We all have a responsibility, hard work, nerves and fear. There is plenty ahead for us and so much depends on the ball going into the net or not but at least we will offer hard work as always".

Simeone took charge of Atletico in 2011 and has already led them to the La Liga title, the Copa del Rey and the Europa League. The 44-year-old has also been named La Liga Coach of the Year in each of the last two seasons.

Paris Saint-Germain and Manchester City had both reportedly hoped to make Simeone their new manager for the 2015-16 season.