David Beckham To Sign New Contract With L.A. Galaxy

David Beckham - LA Galaxy Arrive In Sydney - 2010
Brendon Thorne/Getty Images

The soccer star will stay put after rejecting an offer to join Paris Saint-Germain.

David Beckham is not leaving Los Angeles -- not yet, at least.

The British soccer star and husband of the limelight-loving fashion designer and former pop star, Victoria Beckham, is set to sign a new contract with the L.A. Galaxy after declining an offer with Paris Saint-Germain, The Associated Press reported Tuesday, citing confirmation from the French team.

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"David Beckham is not coming," Nasser al-Khelaifi, president of Paris Saint-Germain, said during the Qatar Open tennis tournament. "We feel a little disappointed. But both sides agreed it would be better that we not do the deal … maybe in the future."

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Beckham, 36, had been involved in weeks of talks with PSG, but in the end, he decided he didn't want to move his family -- which includes three sons and a six-month-old daughter - out of the United States.

Beckham's five-year contract with the Galaxy ended in November following his first victory at the Major League Soccer Cup, where he led the theam to defeat the Houston Dynamo 1-0. Afterward, several European teams came courting: according to French media reports, the PSG -- whose new Qatari owners have funneled $100 million into players -- was prepared to offer Beckham double his Galaxy paycheck.

Meanwhile, Beckham will make an effort to ink a deal with the Galaxy this week; the franchise had paid him an annual base salary of $6.5 million, the AP reported.

The Beckhams -- whose celebrity friends include Tom Cruise and Katie Holmes, and Will and Jada Pinkett Smith -- moved to California in 2007 after he left Real Madrid.