Manchester United and Arsenal target to renew Valencia contract

Manchester United and Arsenal target Sofiane Feghouli has agreed to renew his contract with Valencia, with the attacker due to sign the deal tomorrow, according to the club's official website.

Feghouli will extend his contract with the club until 2016, dealing a blow to the Premier League sides who had hoped to make a move for his talents, and will take part in a presentation at Valencia's training complex on Friday.

Valencia were keen to finalise the new agreement this week, before the 23-year-old attacking midfielder departs for the Africa Cup of Nations with Algeria.