Lionel Messi Agrees to Sign New Five-Year Deal With Barcelona With Massive Pay-Cut: Reports

Messi's old deal expired on June 30, the 34-year-old is currently not tied to any outfit, but there has never been a risk of him having his head swayed by another European rival such as Manchester City or PSG.

Legendary footballer and now a free agent – Lionel Messi has agreed to a new contract with his old club – FC Barcelona, claims a report in Goal.com on Wednesday. The new deal will see Messi take a whopping 50 percent pay-cut in order to help the club balance the books. The six-time Ballon d’Or winner Messi is likely to sign the contract extension in the coming weeks, and the club will make a formal announcement very soon. Messi has spent his entire career with Barcelona after signing on with the club in 2004.

The 34-year-old Argentine, who has just won his first major tournament with La Albiceleste in Brazil at the Copa America, has finally reached an agreement with his club of over 20 years. The striker earned a whopping 550 million euros (468 million pounds/$650m) over the course of his last five-year contract at Camp Nou, which equates to around 75 million euros (64 million pounds/$89m) per season.

Messi’s contract with Barcelona expired on June 30, and he is currently not tied to any outfit. There have been constant rumours that Messi might get roped in by another European rival such as Manchester City or PSG.

From a long time, Barcelona have been pondering hard on freeing up space in their salary cap that will allow a club icon to be tied down on fresh terms.

Barcelona president Joan Laporta has also stated that contract talks with Messi are “progressing adequately” and are optimistic about retaining the talismanic footballer.

Last summer, Messi tried to force an exit but relented due to a wish not to drag Barca through the courts while accusing former president Josep Bartomeu of not keeping his word.

However, by getting Messi to stay on until retirement has been the chief priority of Bartomeu’s successor Laporta. The latter took over the reins in March.

Meanwhile, Barca are apparently aware that due to his advancing years, Messi is not likely to complete the full half-decade on the Camp Nou.