Lionel Messi will sign a new contract with Barcelona on August 5, the Spanish club has received a significant loan payment from La Liga.
After battling economic problems due to the coronavirus, Spain’s top-flight league has secured an incredible €2.7 billion (£2.3bn/$3.2bn) loan from CVC Capital Partners, with a majority percentage to be distributed to each club.
Barcelona will receive €280m (£238m/$331m) from La Liga, with €42m (£36m/$50m) of that figure being allocated to transfers and wages, meaning that the Messi renewal is able to be completed.
The 34-year-old will sign a five year deal although there is the option for the contract to be unilaterally terminated in 2023, as reported by L’Esportiu de Catalunya, without the player having to pay a termination clause.
Messi will be joined by his father, Jorge, and club president Joan Laporta on Thursday to sign the contract, with the official announcement expected to follow soon after.
The Argentine will also be present at the Joan Gamper Trophy fixture on Sunday,