Barcelona have confirmed that Pau Cubarsi has signed a new contract at Camp Nou.
The 17-year-old made his first-team debut for the Catalan giants in January and has now featured on 20 occasions in all competitions for Xavi's team during the 2023-24 campaign.
There had been speculation surrounding Cubarsi's future, with Manchester United and Manchester City said to be among a number of clubs keeping an eye on his situation.
The centre-back's previous deal is thought to have included a release clause of €10m (£8.6m), placing Barcelona in a difficult position heading towards the summer transfer window.
However, on Wednesday, it was reported that Barcelona were closing in on an agreement with the teenager over a new contract, which would include a substantially higher buy-out fee.
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Barcelona announce new contract for Pau Cubarsi
The Catalan outfit have now confirmed that Cubarsi has penned a new contract until June 2027, while his release clause has risen to €500m (£430.3m).
"FC Barcelona and Pau Cubarsi have reached an agreement to extend the centre back's contract with the club through to 30 June 2027. The player's buyout clause has been set at 500 million euros," read a statement on the club's official website.
"The defender put pen to paper this Thursday morning at an event also attended by FC Barcelona president Joan Laporta; first vice-president Rafa Yuste; the director responsible for youth football, Joan Soler; and sporting director Anderson Luis de Souza "Deco".
There have been claims that Cubarsi could sign an even longer contract with the 2022-23 La Liga champions when he turns 18 at the start of next year.
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Pau Cubarsi's breakthrough has been a huge positive for Barcelona
Barcelona will end this season without a trophy, and they are currently locked in a battle with Girona for the runners-up spot behind Real Madrid in La Liga this term.
It has been a tough campaign for the Catalan outfit, but Xavi is now remaining as head coach, and the club are planning to be active this summer despite their well-documented financial problems.
Cubarsi's future would have been a concern for Barcelona due to the presence of such a low release clause in his previous deal, with a number of major clubs said to be circling.
The Spain international's future has now been secured, and even though he is only 20 matches into his Barcelona career, he already has the look of a star in the years to come.
Cubarsi has impressed in La Liga and the Champions League since breaking into the first team, and he is also likely to be named in the Spain squad for Euro 2024.
