Arsenal and Manchester United target Sotirios Ninis has inked a new four-year contract with Panathinaikos.

The exciting 18 year-old Greece international is a long-term target for both Premiership giants, but has signed a new deal with his club until 2012.

Ninis sees his playing future abroad and in his new agreement a foreign club can sign him for £7 million, while he can only move to another Greek club for £11 million.