Atletico Madrid have officially announced that strikerSergio Aguero has agreed a contract extension with the club until 2014.

The Argentine attacker had been in discussions with the club since the beginning of the season, and while a verbal agreement between the parties was reached prior to the winter break, the renewal has now been confirmed.

Aguero has always maintained his desire to remain at the Vicente Calderon for the foreseeable future, and with his previous deal due to expire in 2012, he has agreed to a two-year extension.

Notably, however, reports from Marca suggest that the buy-out clause in the contract has been reduced from €60 million to €45m, perhaps making the 22-year-old a more accessible transfer target for Europe’s big clubs.

‘Kun’ joined Los Colchoneros in the 2006 from Independiente, and has become a fan favourite, enjoying a successful striking partnership with fellow South American Diego Forlan.