Antoine Griezmann will sign a new five-year contract with Atletico Madrid that will retain his EUR100million release clause, according to the club's president.
The France international has confirmed his desire to stay at the club despite heavy speculation linking him with a move to Manchester United.
The 26-year-old said it would be wrong of him to force an exit in the wake of the decision by the Court of Arbitration for Sport to uphold the transfer ban imposed on the club by FIFA.
Griezmann has since agreed to a new deal that will reportedly double his wages but not see an increase in his release clause, which is understood to be set at EUR100m.
When asked about the contract by Cadena SER, Enrique Cerezo said: "Yes, it's one more year and the release clause will remain the same.
"The issue of the money is a private one. We have maintained a confidentiality agreement with respect to the money.
"I said many times that Griezmann would not leave. After months and months of reporting, time has proved me right."
Atleti are banned from registering new players before January of next year after FIFA found them guilty of breaching regulations over the transfer of minors.
Diego Simeone's side are nonetheless being linked with a number of possible reinforcements, including Lyon's Alexandre Lacazette and Chelsea striker Diego Costa, who says he has been told by manager Antonio Conte that he can leave.
"He is the one that has to say and decide," Cerezo said of Costa. "Costa is a Chelsea player and we can't even say that we are interested. What I can say is that we are in a situation where we are working for the future."