David Silva has agreed an improved five-year contract with Valencia, quashing speculation the striker will move to the Premier League.
The Spanish club rejected a bid from Manchester United on Tuesday for Silva, according to his agent, while Tottenham and Liverpool had also been linked.
Valencia have subsequently agreed new terms on the 22-year-old's contract.
"It's very satisfying to see the player's willingness to stay," said Valencia vice president Fernando Gomez.
He added: "The club will not do anything crazy or break our financial and sporting guidelines so we have gone as far as we have been able to."
"There is complete agreement between the club and the player David Jimenez Silva that he will remain with us for the next five seasons.
"We have always expressed the hope that he will stay with us."
Silva was one of the star players in Spain's European championship-winning squad this summer, as the much-fancied Iberians shed their tag as perennial underachievers with a series of attractive, winning displays.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.