Reigning Portuguese champions Benfica have successfully concluded contract negotiations with highly rated wing-back Fabio Coentrao. The Portugal international has signed an extension until the summer of 2016 with the Lisbon side.
Benfica have confirmed the new deal via their official website and revealed the defender has a €30 million release clause included in the contract.
The 22-year-old is a product of the Rio Ave youth academy and joined Benfica in the summer of 2007. He initially struggled to break into the Aguias' first team and was farmed out on loan to Nacional, Real Zaragoza and Rio Ave.
Coentrao returned to Benfica ahead of the 2009-10 campaign and has since developed into a key player at the club. The left-back was rewarded for his fine form with a spot in Portugal's World Cup squad and he performed admirably at the tournament.
Clubs such as Juventus and Bayern Munich were believed to be interested in signing Coentrao, but Benfica refused to let go of the highly rated youngster.