The Portuguese centre-back has been in talks with Los Che over renewing his current deal beyond its June 2014 expiry in recent weeks.
Superdeporte understand that the 31-year-old’s agent reached an agreement with sporting director Braulio Vazquez over a week ago and, upon waiting three days for clearance from majority shareholders Fundacio VCF’s Vice-President Aurelio Martinez, it will be made official later this week.
Costa is believed to have agreed an extension through to June 2015, with an option in place to automatically extend that to June 2016 if Costa reaches a certain number of appearances in 2014-15, believed to be no more than 15.
It is reported that Costa has turned down interest from a number of clubs in Europe to sign on at Mestalla and that he has agreed to a cut in salary in keeping with Valencia’s current renewal policy with a majority of its squad.
Costa, who has played 107 times for Los Che so far, will be 35 by the end of this new contract.
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