Ivan Rakitic has rejected reported interest from the Premier League to agree a new contract with Sevilla, according to club president Jose Castro.
The attacking midfielder has been in sensational form for Sevilla this season, captaining a team in transition to a respectable eighth place in La Liga.
His fine creative efforts attracted the interest of a number of Premier League clubs with Manchester United, Chelsea and Liverpool all rumoured to be considering a bid.
With Rakitic's deal set to expire in the summer of 2015, there was hope from the Premier League rivals that they could get the player for significantly less than his €40m release clause this summer.
However, Sevilla president Jose Castro has delivered a blow to Jose Mourinho, David Moyes and Brendan Rodgers by claiming the Croatian international has all but signed a new deal.
"It is an important negotiation. We've already had two meetings and I believe we've come to a friendly agreement," Castro told Estadio Deportivo.
"Both Rakitic and Sevilla have made a big effort to reach this agreement.
"I don't think there will be any problems in signing the contract in the next few days, one or two details are missing, but the agreement will undoubtedly reach a good conclusion.
"The agreement is clear, we have reached an understanding. There are details to refine but they will not stop Ivan from signing a contract for the next few seasons."
If Rakitic does agree an extension it would be a big bonus for the south of Spain outfit, who have sold Alvaro Negredo, Jesus Navas and Geoffrey Kondogbia in the last 12 months.
It is unknown what Rakitic's new release clause will be but Liverpool, Chelsea and Manchester United can expect it to be significantly more than his current clause, set at €40m.