Valverde signed the new contract at Camp Nou's Presidential Suite ahead of the first team's afternoon training session, reports Efe news.
"I am very comfortable working here, with the backing of the club, and also very comfortable with the players," Valverde told Barcelona's television channel after the signing.
"It is an exciting challenge to lead this club and these players. There is yet more to come," he said on Friday night.
The Spanish coach said he was happy and thankful for being trusted to continue Barcelona's football operations, adding that he remained focused on claiming titles for his team.
Barcelona's Vice-President Jordi Mestre said that all parties were happy with Valverde's renewal.
"We believe that he is a coach who gives us a lot, for the titles he has achieved and for those we hope he would earn," Mestre said about the coach.
"We believe it is a necessary and very useful step because of the stability it gives us and the future we hope for," he added
sourcce:thequint.com
