David Beckham has passed up a return to Europe and signed with LA Galaxy for two more years.
The former England captain will now remain with the Los Angeles team until the end of the 2013 season.
Though details of the deal have not been made public, Beckham, 37, was offered $18.7m by the Qatari owners of Paris St-Germain to play out the autumn of his career in the French capital.
The LA deal is reported to be less, at around $15m for two years.
Rumours suggested a host of English clubs were also keen on bringing Beckham back to the Premier League, though it is unlikely that any of the top teams could have guaranteed the player the regular starting place he enjoys in LA.
In a statement put out by the Galaxy, the playmaker said: "This was an important decision for me. My family and I are incredibly happy and settled in America."
"I had many offers from clubs from around the world, however, I'm still passionate about playing in America and winning trophies with the Galaxy."
Beckham’s son, Brooklyn, plays for the Galaxy U-13 academy team, while the Leytonstone-born midfielder has repeatedly emphasised how easily his family have settled in the Beverley Hill neighbourhood that counts Tom Cruise and Mark Wahlberg as residents.
Victoria Beckham also expressed her joy at being able to stay in America after husband David agreed to stay Stateside.
The deal will also allow the midfielder to once again pull on the national shirt, leading out the British Olympic team in the summer. Beckham played 115 times for England, the record of an outfield player.
The decision comes on the back of Beckham’s best season for the MLS outfit, playing 26 games and setting up 15 goals in the club’s title-winning season, adding to the championship trophies he won with Manchester United and Real Madrid.
"I am thrilled that David has chosen to rejoin the Galaxy, especially as he had numerous options where he could continue his career,” said Galaxy coach Bruce Arena.
"I felt that he was one of the best players in all of MLS last season and we could not have achieved the success that we did without him. We look forward to trying to replicate that success this season with David once again in a Galaxy uniform."
Tim Leiweke, president of Anschutz Entertainment Group, who owns the team, echoed Arena’s sentiments.
"There has been much speculation in the past four months on where David was going to play and we did not get caught up in this and remained focused on re-signing him," he said
"David had many options and we are pleased he felt comfortable, not only with our organization but also with Los Angeles, and will remain an important part of our club, our AEG family and our city."
Beckham’s business partner Simon Fuller, formerly manager of the Spice Girls, brokered the new deal. After the announcement, Fuller reiterated Beckham’s desire the help grow soccer as a sport in the United States.
"When David and I discussed making the move from Real Madrid to the LA Galaxy back in 2007, our minds were firmly focused on the massive opportunity of helping to grow soccer in the United States," he said.
"We have made great progress over the past five years in raising the profile of soccer domestically and the MLS on a worldwide stage, and we are encouraged by all the results."
"Clearly this is an ongoing mission and this new deal confirms our commitment to continuing our journey and making sure the world's biggest sport, soccer, continues to grow in the world's most passionate sports loving nation, the USA."
Watch all 17 of Beckham's England goals: