Cazorla rejects Real, renews with Villarreal

Spanish international Santi Cazorla, who was being chased by Real Madrid, has renewed his contract with Villarreal, Spanish media reported on Wednesday citing his agent.

Real had offered to pay the 23-year-old player's buyout clause of 16 million euros (23.6 million dollars) but Villarreal demanded 28 million euros for the attacking midfielder, news radio Cadena Ser reported.

Talks between the two clubs reportedly broke down on Tuesday night.

Cazorla, who helped lead Spain to victory at Euro 2008, then signed a new contract with Villarreal, Marca quoted his agent Julio Llorente as saying.

The player and Villarreal president Fernando Ruig will appear at a press conference later on Wednesday, the club said on its website.