Lionel Messi is reportedly set to sign a new long-term contract with Barcelona before the end of this month after agreeing to new terms.

The Argentine superstar’s recent deal expired two weeks ago, and talks have been ongoing between the player and the club.

And according to Goal.com Messi will sign a five-year contract at Nou Camp. The six-time Ballon d’Or winner has also accepted the club’s proposed financial package and the payment. He will take an incredible 50 per cent wage cut.

Messi, 34, earned a staggering €550 million (£468m/$650m) throughout his last five-year contract at Barca, which equates to around €75m (£64m/$89m) per season.

The massive pay cut comes after the Spanish giants exceeded La Liga’s wage limit at the end of the 2020-21 campaign.