Teenage midfielder Pedri has agreed a contract extension with Barcelona which includes a 1bn euro (£846m) release clause, the club has announced.
The 18-year-old’s new deal will run until 30 June 2026 and he is expected to officially sign it on Friday.
Pedri joined Barcelona from Las Palmas in August 2020 and played 53 times for them last season – the most of any player at the club.
He was also part of the Spain squad that reached the Euro 2020 semi-finals.
Spain boss Luis Enrique started him for each of his side’s games at the tournament as he impressed on the international stage.
Pedri’s exploits resulted in him being included in Uefa’s team of the tournament.
The teenager also helped Spain win Olympic silver in the summer after they were beaten by Brazil in the final.
Pedri has made four appearances for a struggling Barcelona this season, with the club seventh in the Spanish top flight and bottom of their Champions League group.
‘One of the symbols of the future’ – analysis
Guillem Balague, Spanish football expert on BBC Radio 5 Live’s Euro Leagues podcast
What a marketing tool the release clause is – that even we are talking about it. Karim Benzema also has a billion euro release clause at Real Madrid.
That is partly what it is, and also a sign of trust from both parties, from the player that he wants to stay and from Barcelona that they want him to stay.
Pedri had interest from other clubs, he is not the highest-paid player, but he gets paid more [now] than he did. It is the club he supports, this is his dream – even though Real Madrid could have had him.
He went on trial with Real but he was very unlucky, they thought he was too short and he ended up at Las Palmas.
He is now one of the symbols of the new Barcelona. They hope to sign Ansu Fati on a longer contract next – although his agent Jorge Mendes is making that difficult – and Gavi. They want a picture of the three youngsters saying “This is where we are going, follow us”.