Barcelona are set to announce the renewal of Lionel Messi in the coming days as both parties have agreed on a new contract which will see the Argentine reduce his salary by a significant amount. The 34-year-old is currently a free agent after his initial contract with the Catalan club expired last month but is set to be registered back as a Blaugrana first team member following the approval by La Liga as well. PSG End Pursuit To Sign Argentine Superstar.

According to Catalan news outlet L’Esportiu, Barcelona are planning to announce Lionel Messi’s extension by the end of the week unless there are any last-minute setbacks. The Argentine superstar will sign a contract for five seasons with the Argentine’s new release clause set at 600 million euros. Antoine Griezmann-Saul Niguez Swap Deal On Right Track.

It is understood that the Argentine has reduced his salary significantly and will earn around 20 million euros in the first year of his new contract which allows Barcelona to comply with La Liga’s financial fair play (FFP) regulations. Lionel Messi’s wage in the second year will be higher than the first with his salary decreasing again from the third season onwards.

It is also understood that Barcelona have contacted La Liga authorities over the new contract with Lionel Messi who have given a green light for the renewal to go ahead as long as the Catalan club manages to reduce their payroll in the summer.

Lionel Messi’s father, Jorge Messi and Barcelona reached an agreement on Monday and it will be made official once the Argentine validates it. The 34-year-old is currently on vacation with his family after winning the Copa America and is certain to re-join Barcelona before the new footballing season officially begins.

(The above story first appeared on LatestLY on Jul 14, 2021 07:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website