Lionel Messi and Barcelona have agreed to a new five-year deal with a significant pay reduction from his previous deal worth $594 million.

Messi had first expressed a desire to leave Barca last August after the 8-2 defeat to Bayern Munich in the Champions League. Messi grew more open to staying with the return of Joan Laporta as president in March. 

Messi first joined Barca's academy in 2000 and has gone on to play 778 games for the club, breaking Xavi Hernandez's appearance record last season.