OFFICIAL: Gimenez signs new Atletico Madrid deal
Gimenez was a key part of Atletico's Europa League triumph and second-placed La Liga finish last season and his performances have been rewarded with a new contract.
Spanish newspaper 'Marca' claim his release clause has risen from €65million to €120m, which will no doubt ward off interest from potential European suitors.
Speaking of the renewal, Gimenez said: "I am very happy, I appreciate the confidence from the club. Since I came, I've grown a lot, I've won titles... It's an honour that they bet on me to continue contributing to the group's growth".
The centre-back also left a message for the fans: "I want to thank you, your gestures of support are important to me".
Gimenez joined Atletico in 2013 and will be playing for Uruguay in this summer's World Cup.