Madrid, Spain (SportsNetwork.com) - Atletico Madrid announced Tuesday that manager Diego Simeone has signed a new contract to remain at the Vicente Calderon until 2020.

Simeone led Atletico to the La Liga title last season while also guiding the club to the Champions League final, ultimately losing to Real Madrid in extra time.

The 44-year-old was the subject of speculation as many tabbed the Atletico boss to replace Manuel Pellegrini at Manchester City, but Simeone has put those reports to rest by penning a new deal to replace the one which was due to expire in 2016.