Updated

Benfica midfielder Nicolas Gaitan has extended his stay at the club by another year, tying him to the Lisbon outfit until 2016.

The 23-year-old has established himself as a key member in the Benfica squad since joining from Boca Juniors prior to the start of last season, and he has gone on to make 34 league appearances for the club.

Gaitan has featured in all three of Benfica's Champions League matches this season and has been capped six times by Argentina.

His new deal also includes a release clause of over $60 million.