Two More Years: German National Football Coach Löw Extends Contract

German national football team coach Joachim Löw said on Tuesday he had agreed to extend his contract by a further two years until the end of the 2012 European Championship, much to the relief of millions of fans who hoped he would continue to develop the young team that won international praise for its attractive, fast-paced style during the World Cup in South Africa.

"We have a lot of young players who are capable of development and we see a lot of potential," Löw, 50, told a news conference in Frankfurt. Manager Oliver Bierhoff, co-trainer Hans-Dieter Flick and goalkeeping coach Andreas Köpke will also stay on. As Löw explained: "It's important that we maintain constancy and stick together as a coaching team."

Löw took over as German team coach after the 2006 World Cup in Germany, succeeding Jürgen Klinsmann. He had been Klinsmann's assistant since 2004.

He led Germany to the final of the 2008 European Championship and the semi-final of the 2010 World Cup, and is credited with nurturing a new generation of young players, several of whom come from an immigrant background. Under Löw's leadership the team has played 56 matches, winning 39, drawing eight and losing nine.

The German Football Association (DFB) had been keen to renew Löw's contract ahead of the World Cup but Löw had put the negotiations on hold after a contract dispute. He was reported to be earning €3 million ($3.9 million) a year under his old contract. No details on the terms of his new agreement have been revealed so far.