Philipp Lahm has agreed to extend his contract with Bayern Munich until 2016, according to the club's chairman Karl-Heinz Rummenigge.

The full-back, who joined the club as a 12-year-old in 1995, signed a new three-year contract to end speculation about his future in 2009 and, with just over 18 months left to run on his current deal, he is now going to commit his future to the record German champions until the age of 32.

"We have agreed on a new contract until 2016 with Philipp Lahm and it will be signed in the coming days," Rummenigge revealed to Bild newspaper.

With Lahm due to sign on the dotted line in the coming days, Bayern will now turn their attention to convincing another of their home-grown talents Bastian Schweinsteiger to do likewise.

The German international's current contract is also due to expire in 2012 and many of Europe's top clubs are already showing an interest in the midfielder.

Should he not sign a new deal by next summer, Bayern may be obliged to listen to offers for the 26-year-old or risk losing him on a free transfer 12 months later.

Last summer, Bayern managed to convince Franck Ribery to sign a new contract amid interest from other top European clubs and keeping hold of Lahm is another positive signal from the defending Bundesliga champions.