Paco Jemez has renewed his contract with Ray Vallecano.
The highly-rated coach had been linked with Real Madrid this month.
Rayo Vallecano confirmed yesterday evening that Jémez will remain on as club coach for another season, extending his total time at Rayo to four years.
Jémez will continue to be accompanied by his number two, Jesús Muñoz and Julio Muñoz his fitness coach.