Koke [Reuters] Reuters

Manchester United have failed in their attempts to sign Koke from Atletico Madrid in January as the midfielder signs another new contract with the La Liga outfit.

It was reported last month that United were ready to bid for the highly rated midfielder on New Year's Day when David Moyes personally visited Spain to watch his transfer targets in action.

According to the Marca's report, the Spanish club's management do not have any intention of allowing their prized asset to leave and have successfully renegotiated a new contract with the recently turned 22-year-old. The new deal increases the player's wages and also upgrades the midfielder's release clause to €60m from the existing €24m.

There has been no public announcement about the renegotiation but the report states that Koke has signed a new deal few weeks ago. Last month, his agent Inaki Espizua had revealed last month that his client is committed to his current employers and is not interested in leaving the Spanish Capital.

The star midfielder had signed a new deal with the club in September last year which will keep him at Vicente Calderon till 2018. That did not stop United from pursuing the midfielder's signature as Moyes had reportedly sent brokers in order to negotiate a deal with Atletico's management for Koke.

The Glaswegian wants to add world class young players to his squad and currently has Darren Fletcher, Tom Cleverley and summer signing Marouane Fellaini at his disposal in the middle of the park along with 32-year-old Michael Carrick.

United have already offloaded Anderson albeit temporarily, on loan till the end of the season to Fiorentina. But the former Everton manager has clearly expressed his intentions to rebuild the Red Devils squad during this month and the summer as he has been reportedly handed a £200m war chest by the United hierarchy.

The 50-year-old also made a trip to Italy and was spotted in the stadium during Juventus' 4-1 win over Cagliari while reports stated that United were planning a £20m bid for Claudio Marchisio.

The English champions have also been keeping a watchful eye on the La Liga and United's chief scout Robbie Cooke had visited Spain in order to observe Moyes' various targets in action across the country.

Moyes was also keen on signing another La Liga star Ander Herrera from Athletic Bilbao but failed to acquire his services last summer.