

The Galaxy confirmed Wednesday afternoon that midfielder David Beckham has signed a new two-year contract with team, a deal reportedly worth $15 million.

"This was an important decision for me," Beckham said in a statement. The English star turned down an 18-month, $18.7-million offer from the French club Paris-St. Germain to return to Major League Soccer. "I had many offers from clubs around the world. However I'm still passionate about playing in America and winning trophies with the Galaxy.

The agreement will be officially announced at a press conference in Los Angeles Thursday.

In deciding to stay with the Galaxy, which signed the former English team captain to a five-year deal in 2007, Beckham put his family's desire to remain in Southern California over the potential to earn millions more in Europe.

"I've seen first-hand how popular soccer is now in the States and I'm committed as ever to growing the game here," Beckham, who turns 37 in May. "My family and I are incredibly happy and settled in America and we look forward to spending many more years here."

Beckham's deal also includes a sabbatical that allows him to leave the Galaxy to play for Britain in this summer's Olympic Games in London, plus he and business manager Simon Fuller have an option to own a future MLS expansion team.