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The veteran United States international, 43, moved to White Hart Lane from Aston Villa on a free transfer in July 2011, but has often been used as back-up for France goalkeeper Hugo Lloris, making just one Premier League appearance last season.
Spurs are also keen for Friedel to help promote the club in America in an ambassadorial role.
The club confirmed on their official website: "Brad Friedel has put pen to paper on a new one-year contract with the club, which will also see him become a club ambassador with a particular focus on our work in his native United States.
"Our goalkeeper's ambassadorial role will have a wide-ranging remit that will include greater involvement in our global coaching programme and engaging with our 30 supporters clubs from across North America as we continue to increase our global presence and bring our international fanbase closer to the club.
"Brad has enjoyed an impressive 17-year career in the Premier League to date, representing Liverpool, Blackburn Rovers and Aston Villa before joining us in the summer of 2011.
"Capped 82 times by his country, including appearing in two World Cup finals, he has currently made a total of 67 appearances in goal for us."
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