ESPNsoccernet can reveal that David Beckham has agreed a new deal with LA Galaxy to stay in US football for the rest of his career.
A source close to the player said: "The new contract hasn't actually been signed yet, but it will be. The final decision was made by David and his family over Christmas."
As ESPNsoccernet revealed on December 21, Galaxy tabled an acceptable counter-offer just when it seemed certain Beckham would sign for Paris Saint Germain.
The former England captain decided with his family around the Christmas tree in LA that he should remain with Galaxy and not uproot them again.
Beckham has agreed to a rolling contract that effectively means he has the option to play on with the club until he is no longer able to. The MLS joined Galaxy in persuading Beckham that his future should remain in the States.
There was an astonishing queue of 22 clubs from four continents who approached Beckham for his services; clubs in South America - notably Brazil, from Asia, Australia and Europe, including the Premier League.
Beckham informed PSG last week that it was highly unlikely that he would finalise the terms which had been agreed in principle for a £12 million, 18-month contract.
He enjoyed his best ever season in the MLS in 2011 and was happy with his football. Beckham also spoke to Stuart Pearce, in charge of the Great Britain Olympic team, who assured him that his place at the London Olympics would not be jeopordised if he remained in LA.
"The Olympics is very important to David, and this was an important issue," ESPNsoccernet's source revealed. "He has been given indications that he would remain under serious consideration for the Olympics even if he remained in LA.
"The decision was taken very much with his family in mind, and also because of his football. The American league and his club, also, made it clear how much they still see him as the figurehead for football in the States, and the contract, well, he can stay with LA for a along as he wants."
Earlier on Tuesday, PSG sporting director Leonardo revealed the deal was off, saying: "It's over. It's a shame. But the welfare of his family in Los Angeles, the wish not not to change everything in his life, weighed heavily.
"He will not come to PSG. It has never been an issue related to the professional side of things - it's his family.
"It would be a difficult decision to take, to move his family to Paris. I know him. I have great admiration for him as a player but as a father too. I know these changes are hard."