Manchester United and Chelsea target Sergio Aguero release clause drops to £38m

05 January 2011 02:49

On the dotted line: Sergio Aguero has extended his contract at Atletico Madrid

Sergio Aguero has secured a new contract with Atletico Madrid that wipes £13million off his release clause and leaves him open to a summer move.

Chelsea and Manchester United have long admired the Argentina hot shot but Atletico's always insisted they would not do a deal for under his £51million valuation.

However, after months of wrangling, sources in Spain say that Aguero made it clear he would only commit to a new contract if the clause was reduced to £38m - a figure which approaches the levels English suitors were prepared to pay last summer.

Inter Milan are also keen on the 22-year-old and Manchester City may renew tentative interest if Carlos Tevez's future is brought into question again at the end of the season.

Atletico have not confirmed how much it would cost for Aguero to escape from his deal despite proudly announcing the contract had been extended by two years through to 2014.

Aguero feels a debt to the club who signed him from Argentine side Independiente for approaching £20m when he was little more than a promising teenager in 2006.

However, he will be wary that La Liga has become little more than a perennial two-horse race between Real Madrid and Barcelona, with Atletico struggling be competitive either domestically or in the Champions League.

Aguero, who has scored 13 goals in 20 games this season, insisted: 'I want to say I am very happy to have renewed with Atletico Madrid.

'It is not only about putting a signature on a contract, it is also renewing my commitment to the club I joined when I was 18 and where I have been for almost five years. It has also renewed my desire to keep progressing with the club.'

Aguero won the Europa League and UEFA Super Cup in 2010, but his team are sixth in La Liga and in danger of not qualifying for Europe at all next season.

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Source: Daily_Mail