Liverpool captain Steven Gerrard has pledged his future to the club.
The 24-year-old, linked with a £30m move to Chelsea, will stay despite admitting his discontent at the club's lack of progress in the last two years.
"The last three or four weeks have been really confusing and for the first time in my career I thought about moving on," said Gerrard.
"But I have gone with the decision that is in my heart and that is to stay with Liverpool. I love the club," he added.
"I have been involved in a big tournament [Euro 2004] and that's the reason I have been
really quiet about my future."
A club statement said: "Steven Gerrard has quashed all speculation linking him with a move by pledging his future to Liverpool Football Club.
"The news will come as a huge relief to Liverpudlians everywhere who feared the club was set to lose the services of their highly influential captain."
Liverpool chief executive Rick Parry refused to comment on speculation that Chelsea had tabled a bid for Gerrard.
"I'm not going into the details of whether there was a bid or not - this is Stevie's day and his message is he's here. I can tell Steve's totally committed.
"It's great news for us and the supporters and for Rafael Benitez coming in - he's delighted.
"Rafael went to Portugal to meet Steve and all the England players. Steve says he's a great appointment, we're moving forward."
Parry admitted that it had been a tough time for the Merseyside club and is hopeful Gerard's decision to stay may convince Michael Owen to commit his future to the club.
"I don't think what has happened with Steven can do any harm. That is our next challenge.
"Michael is very important to our future. We hope he will commit himself to the club.
"We have have always been reasonably optimistic he will do."
Owen had previously hinted that his future at Liverpool may depend on Gerrard's decision to remain at Anfield.