Messi ‘agrees a 50 percent pay cut to finally sign Barcelona deal

Barcelona’s playmaker Lionel Messi has reportedly reached an agreement in principle to extend his contract with the Catalans with a slash pay in half.

The La Liga giants were unable to get the Argentine International to sign on the dotted line before his deal expired at the end of last month.

But reports across Spain now indicate that a breakthrough has been reached.

The deal will see the 34-year-old Blaugrana talisman slash his pay by half around £1.2million-a-week after the details of his previous contract were leaked earlier this year.

Barcelona will also hold a release clause of just over £300m on the player.

The striker is willing to accept a pay cut amid the Catalan club's financial predicament. This is according to Sport.

Messi’s contract is said to last for five years, despite talk of the player wanting to see out his career with a stint in MLS.

The Catalans have been told to severely reduce their wage bill to abide by La Liga wage liimit rules. 
An agreement was, however, reportedly delayed as both parties were at pains to ensure the contract's tax situation was in order.

The club and player's lawyers are now set to draft the agreement and produce a document that Messi can give his final consent to.

An announcement is expected next week at the earliest with the star on holiday following the Copa America.