MADRID (AFP) - Two-time Tour de France winner Alberto Contador on Tuesday announced that he would extend his contract for a further year with the Tinkoff-Saxo team.

The Spaniard's current contract expires at the end of this season and there had been some indications that the 32-year-old was considering retirement.

But in a posting on his Twitter account, he said: "Hello all, happy to announce that in 2016 will continue being rider of tinkoff saxo.!!!"

Tinkoff-Saxo team boss Oleg Tinkov said on Twitter: "Best stays with the best."

Contador is among the favourites for the 2015 Tour de France which begins on July 4 in Utrecht.

He previously won cycling's biggest prize in 2007 and 2009 as well as the Tour of Spain in 2008, 2012 and 2014 and the Tour of Italy in 2008.