1 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

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, which was worth over €500 million ($594m) over four years, expired at the stroke of midnight on June 30.

However, with the return of Joan Laporta as president in March, Messi grew more open 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 €1 billion. 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 has warned Barca they will not be allowed to register Messi's new deal if they are 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