MADRID (Reuters) - Spain striker Fernando Torres has agreed on a one-year extension to his contract with Atletico Madrid that will him tie him to the club until 2009, the player said on Monday.

"I had two years left on my contract. After all the uproar this summer I am still here and the club have offered me another year," Torres told a news conference.

"I am delighted because I feel valued at the club and this is further proof. Everything has been agreed and when I return (from international duty) we will look to make it official."

The 22-year-old was a reported target for Manchester United and Inter Milan after the World Cup, but he rejected their approaches to stay with Atletico.

Torres came up though the youth ranks at Atletico and has been their leading scorer in each of the last four seasons.

After a disappointing 10th-place finish in the league last year the club have spent around 50 million euros (34 million pounds) reinforcing their squad and are expected to challenge for a Champions League place this season.