Griezmann, whose previous deal was due to end in June 2021, has long been linked with United but the France international is now set to remain a leading player in La Liga under Atletico coach Diego Simeone.

The 26-year-old's release clause of €100 million is to remain the same.

Asked about Griezmann's new deal, Cerezo told Cadena Ser: "Yes, it's one more year and the release clause will remain the same."

Marca and AS report that the new deal will see Griezmann become the highest-paid player at Atletico.

Cerezo, though, did not comment on the wage increase.

He said: "The issue of the money is a private one. We have maintained a confidentiality agreement with respect to the money."

Sources have, however, told ESPN FC that United have not entirely abandoned their interest in Griezmann and that they could move for the player at some stage in the coming year.

Earlier this month, Griezmann indicated that he would remain at Atletico despite having previously left open the possibility that he may leave the club he joined in 2014 from Real Sociedad.

"I said it many times that Griezmann would not leave," Cerezo said. "After months and months of reporting, time has proved me right."

Griezmann scored 26 goals and set up 12 more for the club in all competitions this past season.

He turned down a move to Paris Saint-Germain last summer after an impressive 2015-16 campaign which had seen him finish third in the Ballon d'Or vote behind Real Madrid's Cristiano Ronaldo and Barcelona's Lionel Messi.

Instead, he signed a contract extension with Atletico last summer and saw his buyout clause increase to €100m.

Griezmann's decision to stay put is a big boost for Atletico, who cannot register any new players until January 2018 after FIFA's transfer ban was upheld by the Court of Arbitration for Sport.

Atletico were punished by FIFA in January 2016 for breaching rules regarding international transfers of players aged under 16.

The Spanish club are still, nevertheless, being linked with their former striker Diego Costa, who scored 26 goals in 46 games in all competitions last season as Chelsea won the Premier League title.

Costa, who scored 43 goals in 94 league appearances for Atletico before Chelsea triggered his £32m buyout clause in the summer of 2014, is keen to return to his old club.

He has two years left on his contract but the Spain international recently said that Chelsea coach Antonio Conte is not counting on his services next season.

"He is the one that has to say and decide," Cerezo said of Costa. "Costa is a Chelsea player and we can't even say that we are interested. What I can say is that we are in a situation [transfer ban] where we are working for the future."