Lionel Messi has ended speculation over his future by agreeing a 50 per cent pay cut to stay at Barcelona.
The Argentinian superstar, 34, has been a free agent since his €138m (£118m)-a year contract expired last month.
Messi had discussed a two-year extension but will instead sign for five years on a lower wage, say widespread reports.
Barcelona have had difficulty finalising a deal due to their financial difficulties. Earlier this year they were reported to owe more than €1bn.
Messi’s contract cannot be announced until Barcelona have satisfied Spanish league chiefs that it is within their agreed budget.
That may also mean the club selling players in order to balance the books. World Cup-winning France forward Antoine Griezmann is seemingly on his way out.
Messi’s commitment to Barcelona comes a year after he rocked football by announcing he wanted to leave the Catalan team.
Manchester City and Paris Saint-Germain were linked with offers for the six-time Ballon d’Or winner, rated by some as the best player ever.
However, the return of Joan Laporta to the role of Barcelona president has helped smooth relations with their star player.
Messi was the second highest earning sportsperson in the world last year, according to Forbes.
His previous contract was worth more than half a billion euros over four years, including a one-off payment of €115m for signing the deal and a €78m loyalty bonus.
Messi has spent his entire professional career at Barcelona, scoring 672 goals in 778 appearances.
He has helped them win 10 LaLiga titles and four Champions Leagues.