Simeone has impressed since arriving as coach of the Spanish side just over a year ago.
AS report that the Argentine, whose contract is up in the summer, is now set to conclude an agreement on a deal which will keep him in Madrid until 2017.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.