Luka Modric may be on his way out at Tottenham Hotspur, but Gareth Bale isn't planning on going anywhere anytime soon.

Tottenham announced Wednesday that Bale had signed a new four-year contract with the club that will keep him at White Hart Lane until 2016.

"The Club is progressing and I want to be a part of that," Bale said in a press release, "so it was great to get the deal done.

"I love the Club and the fans and I want to play my part in trying to get us back into the Champions League - where we belong."

Spurs finished fourth in the Barclays Premier League in 2011-12 with a record of 20-9-9, but missed out on a Champions League qualifying berth when sixth-place Chelsea won this year's Champions League, earning a return invitation for 2012-13 and pushing Spurs out of England's fourth spot. Bale was a key catalyst for the club, scoring nine goals and assisting on 10 in 36 starts.

Bringing back the 22-year-old sends a strong signal for Spurs in the rest of their summer dealings that the club remains ambitious. Spurs remain without a manager since parting ways with Harry Redknapp, and have been linked in transfer talks to Dutch Footballer of the Year Jan Vertonghen, while Modric remains a highly sought-after transfer for top clubs in England and elsewhere.

Spurs chairman Daniel Levy still has a lot of work to do before the 2012-13 Premier League season begins, but having Bale back in the fold is a key step.