Manchester United target Fran Villalba has announced he has agreed a new four-year contract with Valencia.
Villalba's agent said last week that United had been in contact over the 18-year-old, whose previous deal was due to expire in 2018 and contained a €4 million release clause.
However, Valencia-based newspaper Super Deporte reported on Thursday that the Spanish club had arranged a meeting to revive negotiations over a renewal, which had stalled following Gary Neville's dismissal as manager in March.
Muy contento por renovar 4 años más con el equipo de mi vida.
Toca trabajar para aportar mi granito de arena a este gran club.#AMUNT #VCF pic.twitter.com/0zBz4iswDI- Fran Villalba (@franvillalba10) October 18, 2016
Villalba, who has been playing for Valencia's B team in the Segunda Division B despite breaking into the first team under Neville, announced on Twitter that he had agreed a new deal until 2020.
He wrote: "Very happy to renew my contract for four more years with the team of my life. Now it's time to work hard to add my grain of sand to this great club."
Super Deporte, which reported that the deal would be signed on Tuesday, suggested the release clause had been significantly increased.