The former Manchester United midfielder has reportedly been targetted by Arsenal and Chelsea but Valdano said Sunday he expected Beckham to remain at the Santiago-Bernabeu stadium at least till the summer of 2005.

Valdano, reported to have met Beckham at a funeral last week, told The Observer: "Nothing has changed. I have spoken to him and he is calm."

That view was backed up by comments from the midfielder's personal assistant Terry Byrne.

He told The People: "Unless Real want to sell him, he's staying. The truth is, we don't know where the stories about him leaving are coming from, but it's not us. Real told me they don't want to sell him.

"The situation remains the same because we always said we would review the situation after two years and he hasn't even finished his first season. He's happy in Madrid and he's staying.