Barcelona forward, Lionel Messi have reached an agreement with the Catalan club to sign a new five-year deal.
According to sources, Messi also accepted a significant wage reduction to prolong his stay.
Recall that Messi was a free agent after his contract at Barca expired and he had courted interest from Paris Saint-Germain and Manchester City since first revealing a desire to end his 20-year relationship with Barca last summer.
The 34-year-old’s previous contract was worth over €500m and that expired at the stroke of midnight on July 1.
The return of Joan Laporta as president in March however aroused Messi’s interest to staying at Camp Nou.
An official announcement is expected in the coming days.
Laporta had hoped to finalise an agreement before Messi’s previous terms expired. Barca’s financial problems made that impossible, though, with their gross debt over €1bn. Cutbacks have been essential, in terms of transferring players out, reducing the wage bill and getting Messi to accept a lower salary.
La Liga president Javier Tebas had warned Barca they would not be allowed to register Messi’s new deal if they were unable to reduce spending to comply with the league’s financial fair play rules.
Barca’s spending limit has been reduced from over €600m to €347m since the coronavirus pandemic, with further reductions expected to be imposed for the upcoming season.
Messi had first expressed a desire to leave Barca last August after the 8-2 defeat to Bayern Munich in the Champions League. His relationship with then-president Josep Maria Bartomeu had reached a breaking point. In a September 2020 interview with Goal, after Barca had blocked his departure, Messi called Bartomeu a “liar” and said the board had been “making things up as they go along” and “plugging holes” for years.
Bartomeu, facing a vote of no confidence, resigned last October and was eventually replaced by Laporta in March. Laporta has a good relationship with Messi and his family. He was Barca’s president when Messi made his first-team debut and when he signed his first professional contract with the club.
Messi first joined Barca’s academy in 2000 and has gone on to play 778 games for the club, breaking Xavi Hernandez’s appearance record last season. He has scored 672 goals, another club record, and has helped Barca win, among other trophies, 10 La Liga titles and the Champions League on four occasions.