Reported Arsenal target, Miranda, has snubbed a summer move to the Premier League after agreeing a contract extension with Atletico Madrid until 2016.

TalkSPORT reports how numerous sides in England have been tracking the defender over the past few seasons, and had planned to move for the Brazilian at the end of the season.

Gunners boss Arsene Wenger had been credited with an interest in bringing him to the Emirates Stadium, after watching Mirandawin the Europa League and Super Cup with Los Rojiblancos over the past year.

However, Arsenal's hopes of securing the South American's signature have now been dealt a significant blow, after the centre-back penned a new deal to remain at the Vicente Calderon Stadium.

"I am very happy," exclaimed Miranda, after putting pen to paper. "I have been working to earn a new contract and I think this is a good deal for both parties.

"I feel great at Atletico, it feels like home. Madrid is a city I love. I am very happy here."

Miranda's fine form for Atletico Madrid was recently rewarded with a call-up to the Brazilian national team, and the 28-year-old will have one eye on making Luis Felipe Scolari's squad for the World Cup in 2014.

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