Lionel Messi Will Not Renew His Contract With F.C. Barcelona
After Messi's Barcelona contract ended on 1st July 2021, Messi's 20 year run with Barcelona has finally been concluded today after, according to F.C. Barcelona, the club and Messi fails to reach an agreement due to financial affairs at the club.
Messi has been with the club since the age of 13. Currently at 34, he was supposed to renew his contract with Barcelona, but reports of a breakdown in negotiations, the team confirmed that he wouldn't be doing so.
LATEST NEWS | Leo #Messi will not continue with FC Barcelona
— FC Barcelona (@FCBarcelona) August 5, 2021
“Despite F.C. Barcelona and Lionel Messi having reached an agreement and the clear intention of both parties to sign a new contract today, this cannot happen because of financial and structural obstacles (Spanish Liga regulations),” the team mentioned on the website.
According to reports, there were many existing issues between Messi and Barcelona, for months now. However it was the team's decision to let the contract end by June, which resulted in this.
Barcelona was told that it would have to cut hundreds of millions in dollars in obligations, before they'd be allowed to sign any new players into the club, for the next season.
Messi's recent contract of four years, was worth nearly $675 million, assuming every condition was met. However, due to the pandemic, they weren't able to maintain their spendings as the revenues dropped drastically.
The club wished him well in their statement: “Barça would like to wholeheartedly thank the player for his contribution to the growth of the institution and wish him the best in his personal and professional life.”
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