Dani Ceballos: Arsenal target signs new contract 'for the fans' with an £8.8m release clause

Spanish starlet Dani Ceballos has committed his future to Betis by signing a new deal until 2020 following speculation linking him with Arsenal, Liverpool and Real Madrid. Nevertheless, the La Liga side have reportedly agreed to include a £8.8m ($13.5m) release clause in his contract – which could increase to £11m the following season – in order to facilitate a future move away to a bigger club.

"The renewal was what I had been waiting since Betis opened me the door of the first team," Ceballos told Betis' official website. "I'm very happy. I hope to enjoy many triumphs with Betis and make the the fans happy."

The Under 21 international is considered one of the next big things to emerge from the prolific Spanish academy after he was the star of the Under-19 European Championship last summer alongside Real Madrid's Marco Asensio. The midfielder also played a big role in Betis' promotion last season to the La Liga side, and was a crucial player for former West Bromwich manager Pepe Mel.

In September the player revealed his intentions to stay at Mel's side for the long-term despite his contract being set to expire at the end of the current season.

"I want to continue at Betis and enjoy these fans for many years," he told AS. "They trust me because I have never failed them. I have always given everything for this shirt and I only think about returning all of the affection that I have received from the Beticos (Betis fans). [Reports of a move away] are only rumours, what I want is to stay at Betis."

But the rumours about a potential move to a big European club have since increased as the negotiation for a new deal were reportedly stalled. The Mirror recently reported that both the Gunners and the Merseysiders were monitoring the situation, and hoping to secure him in January for a cut-price deal.