Atletico Madrid defender Juanfran reportedly turned down an offer from Arsenal this summer.

The 28-year-old right-back has now signed a new contract with the Rojiblancos, which gives him a pay rise and ties him to the club till 2017. And, according to the AS, the improved deal has come as a reward for not only his impressive performances but also for rejecting an approach from the Gunners in the last transfer window.

The report claims Arsenal had made an enquiry and were even ready to quadruple Juanfran's wages but the player rebuffed a move to the Premier League, in order to stay in the Spanish capital and continue working with Atletico boss Diego Simeone.

Juanfran is staying at Atletico (Reuters)

Juanfran was part of Spain's triumphant Euro 2012 squad. And with the 2014 World Cup awaiting at the other end of the season, the player was understood to be keen on having regular first team football, which Atletico can guarantee him.

However, AS also reports the Real Madrid product has a €10m release clause in his new contract, which could tempt Arsene Wenger to return with another proposal in the near future. Arsenal were actively pursuing a right-back earlier in the summer, with club veteran Bacary Sagna's contract set to expire at the end of this season.

Meanwhile, Juanfran has expressed his delight in signing a new deal with Atletico. The wing-back, who arrived at the Vicente Calderon in January 2011 from Osasuna in a €4m move, has made 76 La Liga appearances for the club so far.

"First I want to thank the club and the coach all the confidence they have in me. I am very proud to wear this shirt and this coat for many years," the defender pointed out.

Atletico sporting director Jose Luis Perez Caminero added: "We arevery satisfied with the agreement reached with Juanfran, as he has become a very important player for us. Also I'm personally very optimistic because he is a very good player, a great teammate and a person, much loved by the club and the fans."