PIC/AFP

The former England captain said that he has reached an agreement on a new two-year contract for the 2012 and 2013 seasons with the Major League Soccer club. His five-year deal worth $32.5 million with the Galaxy expired at the end of last month.

"This was an important decision for me," said Beckham, who will be almost 39 when the latest contract expires.

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"I had many offers from clubs from around the world," he said. "However, I'm still passionate about playing in America and winning trophies with the Galaxy."

No details of the new contract were released. The deal was expected to provide for a sabbatical from the next Major League Soccer season that would allow Beckham to possibly play in the London Olympics, to be staged in late July and early August.

Beckham rejected on offer from French giants Paris-Saint Germain, which is believed to be partly because his wife and four children enjoy living in Los Angeles.

"I am thrilled that David has chosen to rejoin the Galaxy, especially as he had numerous options where he could continue his career," Galaxy general manager and coach Bruce Arena said.

"I felt that he was one of the best players in all of MLS last season and we could not have achieved the success that we did without him," Arena said. "We look forward to trying to replicate that success this season with David once again in a Galaxy uniform."

Beckham won the MLS Comeback Player of the Year award last season and helped the Galaxy to the MLS Cup title.

In 74 MLS regular season games, Beckham has scored 11 goals and 31 assists.

"There has been much speculation in the past four months on where David was going to play and we did not get caught up in this and remained focused on re-signing him," said Tim Leiweke, chief executive of Anschutz Entertainment Group, which owns the Los Angeles Galaxy.

In the five years Beckham has been with the Galaxy, the MLS has grown from 12 to 19 teams and has an average attendance of 17,800 per game.

The Galaxy's next game is March 7 when they face Toronto FC in Toronto as part of the 2011-12 CONCACAF Champions League quarterfinals. The Galaxy's first MLS game is March 10 against Real Salt Lake.