Simeone discussing new contract with Atletico
The Argentinian watched his Spanish champions ease to a 3-0 La Liga victory against Almeria on Saturday and revealed after the match that talks are ongoing to keep him at the Vicente Calderon beyond his current deal.
Reports have linked Simeone with Premier League champions Manchester City but he appears set to spurn any advances from the Etihad Stadium.
"It's clear that I'm very happy with the club, that I love Atletico Madrid," Simeone told a media conference following Saturday's victory.
"We are trying to continue this project started three years ago and we are evaluating the two parties with the same enthusiasm and the same inclination."
Simeone's contract was last renewed in March 2013, with that deal running until 2017.
But with interest in his services continuing to grow after Atletico secured their first league title since 1996 last season while also reaching the UEFA Champions League final, the club are believed to be keen on keeping Simeone in the Spanish capital beyond 2020.