England boss Gareth Southgate says he is excited by the potential in the team’s future after signing a new contract.

The Watford-born 51-year-old has put pen to paper on a deal that will keep him at the helm until at least December 2024.

Southgate's contract was set to expire after next year’s World Cup in Qatar but the Three Lions announced today he and his assistant Steve Holland have signed a two-year extension.

Under Southgate, England reached their first ever Euro final, losing agonisingly on penalties to Italy at Wembley in the summer.

The former defender, who will celebrate five years in charge later this month, has also led England to a first World Cup semi-final since 1990 and a third-placed finish in the Nations League. 

Watford Observer: England assistant manager Steve Holland and manager Gareth Southgate. Credit: PAEngland assistant manager Steve Holland and manager Gareth Southgate. Credit: PA

Speaking at a media conference arranged in the wake of his new deal, Southgate said: "I’d like to say how excited we are, the last five years have been an incredible experience.

"We can see what’s possible with the existing squad and some of the players coming through our age-group teams. We are grateful for the support of the FA. We felt it was important to qualify (before signing) so there was no question on focus.

"We are looking forward to the next few years to make some new memories."

Football Association chief executive Mark Bullingham said: "Gareth and Steve have built a really strong culture with the players and support team and are best placed to take this young team forward.

"The success comes with revised expectations. We used to celebrate qualifying, now we expect to reach the latter stages.

"People will ask how we can afford this, but I will say this is a performance-related rise. Gareth and Steve care about the organisation. We are delighted Gareth and Steve have chosen to continue."