David Beckham is set to extend his stay at Real Madrid but has yet to hold formal talks over a new contract.
Reports in the Spanish press this morning claimed Beckham had already signed a two-year extension, tying him to the club until 2009.
However they have proven to be premature, with a spokesman for the former England captain confirming discussions are planned but will not take place until next month.
'There is intention on both sides to tie David to an extension,' said the spokesman.
'Madrid are happy and likewise David has gone on record to say he has enjoyed his time at Madrid.
'He hasn't signed a new contract but we're due to sit down in September to hold talks.'
Real president Ramon Calderon told Television Espanola that 31-year-old Beckham remained a valuable member of the club's playing staff, even though he has lost his place in the England team since new head coach Steve McClaren's arrival.
Calderon confirmed the decision to proceed with contract negotiations was taken purely on sporting terms, even though Beckham's marketing value has been immense to Real.
'Obviously it's for sporting reasons,' said Calderon.
'Marketing is important but at Real Madrid the most important thing is the sporting factor and the technical (coaching) department gave the green light to renew Beckham's deal.'
Madrid are thought to be keen to complete their summer transfer dealing before opening talks with players such as Beckham, who are considered integral to the team.
Thomas Gravesen and Jonathan Woodgate are expected to leave the club before Thursday's transfer deadline.
Danish midfielder Gravesen is expected to join Celtic, while English centre-back Woodgate could make a loan move back to the Barclays Premiership.