David Beckham has signed a two-year contract extension with Real Madrid.
Beckham's contract had been due to expire at the end of this season. He will now stay for two more years, Real Madrid president Ramon Calderon said late Sunday, the AP reports.
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Real Madrid - which has not won a trophy in three years - was keeping Beckham mainly for his athletic value, not his marketing allure, Calderon said.
"Of course the criteria were based on sports. Marketing issues are important but in this Real Madrid sports aspects take priority and team management has agreed to renew Beckham's contract," Calderon said.
Calderon was declared the winner of the club's presidential election on July 3.
Beckham joined Real Madrid in 2003 from Manchester United.
He played in Real Madrid's 0-0 draw with visiting Villarreal on Sunday in its first match of the Spanish league season. Beckham was replaced by Robinho in the 75th minute.
Beckham captained England at the World Cup finals in Germany but was dropped from the side after the tournament by new national coach Steve McClaren.