Gerardo Martino will stay on as coach of World Cup quarter-finalists Paraguay till after the Copa America next year, he told Paraguayan television station Canal 9.

The 47-year-old Argentinian, who became an adopted son to the Paraguayans after leading the side to an historic last eight spot where they were slightly unfortunate to lose 1-0 to finalists Spain, said he had pretty much known that he would stay on before the finals.

"For me, it has been five months that the new contract has already been in order," said Martino, who was left aggrieved after the Spain defeat by a goal that should not have been ruled out for offside.

"However, after the Copa America (hosted by Argentina) a cycle will come to an end and I will leave my post," added Martino, who had been mentioned as an outside chance to replace Diego Maradona as Argentinian coach should he decide to step aside.

On Thursday, Paraguay's football federation (APF) had announced that they would give him time to reflect on his future while he went on three weeks holiday.

"We would like him to stay on and we told him that, now the decision is up to him," APF president Juan Angel Napout said.

Martino, a disciple of former Argentina and present Chile coach Marcelo Bielsa, has received several offers of alternative employment including from clubs in Mexico, Chile and Saudi Arabia.