Barcelona star Lionel Messi agrees to stay until 2026, even agreeing to reduced wages that is half of his previous salary.
The pay cut was structured to help club finances, so they remain within the financial fair play boundaries of La Liga.
Messi agreed to a five-year deal with reduced wages instead of the initial two-year extension that was discussed. He accepted taking a significant cut in his salary, but with bonuses worked into the contract. He will be earning less this coming season than the season after as FC Barcelona struggles with financial issues.
The 34-year-old football star was a free agent as his contract expired on June 30, which paid him 123m per season. Messi is currently on a much-deserved holiday after Argentina won the Copa America while the finer details of his contract are being finalized.
Barcelona will have many changes in its lineup due to the clubs financial problems, but the re-signing of Messi was new chairman Joan Laportas main summer target. One of their goals was a swap deal between Antoine Griezmann and Saul Niguez to reduce Barcas wage bill.
On the other hand, some fringe players such as Jean-Clair Todibo, Junior Firpo, and Carles Alena were already sold to ease the clubs budget. Fans can also expect some big names to depart in the nearest future.
Messi is one of Barcelonas biggest scorers, recording 672 goals. He has won 10 La Liga titles, 7 Copa del Reys, and 4 Champion Leagues. He also has Ballon dOr, which he claimed on six occasions. He was rumored to move to Paris St-Germain, Manchester City, and Americas Major League Soccer.