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Reports: Simeone nearing extension with Atletico Madrid through 2020

Club Atletico de Madrid v Bayer 04 Leverkusen - UEFA Champions League Round of 16

MADRID, SPAIN - MARCH 17: Head Coach Diego Simeone of Atletico Madrid celebrates the first goal on the tuchline during the UEFA Champions League round of 16 match between Club Atletico de Madrid and Bayer 04 Leverkusen at Vicente Calderon Stadium on March 17, 2015 in Madrid, Spain. (Photo by Dennis Grombkowski/Bongarts/Getty Images)

Bongarts/Getty Images

The short-term news is that Diego Simeone’s Atletico Madrid is onto the quarterfinals of the UEFA Champions League, and the long-term says that “Cholo” will be managing the club well into the future.

Tipped for nearly every big-name job on the market from Manchester City to Barcelona, Simeone is close to an extension to keep him at the Vicente Calderon until 2020.

[ MATCH RECAP: Atletico 1-0 (1-1) Bayer ]

That also could just serve to make the buyout even higher should those suitors come calling.

La hermana de Simeone (su representante) da casi por cerrada en Teledeporte la renovación del Cholo. Seguirá hasta 2020. Gran noticia.

— Matias Prats (@matias_prats) March 17, 2015


Diego Simeone’s new deal with Atleti, until 2020, just about done, confirms his sister and representative Natalia Simeone. — David Cartlidge (@davidjaca) March 17, 2015

Keeping Simeone would be a big win for Atletico Madrid, which is in fourth place in La Liga and alive in the UEFA Champions League despite selling Diego Costa and Felipe Luis to Chelsea and losing Thibaut Courtois to the Blues’ loan recall. Javi Manquillo’s been loaned to Liverpool and Toby Alderweireld to Southampton.

But ‘El Cholo’ plays on, and on.

Follow @NicholasMendola