Aranzubia agrees new Bilbao deal
Bilabo and Aranzubia have decided to take up on option on his contract for a new four-year deal which was stipulated in his contract when he signed in 2000.
Aranzubia's current deal was due to expire at the end of the season, but the Basuqe outfit have tied him down to the summer of 2008.
Bilbao are believed to have installed a buy-out clause of é¼24 million on the highly-rated shot-stopper.
He is expected to finalise the deal next week once he has ironed out things with director of sport Andoni Zubizaretta.
Aranzubia has now established himself as first-choice goalkeeper at San Mames and he is in the running for the Spain squad for this summer's European Championships.