He finally agrees new five-year deal with Barcelona, accepts significant wage cut

 Barcelona has apparently reached an agreement with Lionel Messi to sign a new five-year contract, according to ESPN's sources.

According to the sources, Messi has agreed to a hefty wage cut in order to extend his stay.

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Prior to the new deal, Messi was a free agent after his Barca contract expired, with interest from Paris Saint-Germain and Manchester City. Messi concluded his 20-year connection with Barca last summer, and he was a free agency.

The 34-year-previous old's contract, worth more than €500 million, expired on July 1 at 12 a.m.

Messi became more open to staying at Camp Nou after Joan Laporta was re-elected president in March. In the next days, an official announcement is planned.