Lionel Messi's Barcelona contract held up by La Liga financial rules - president

Gab and Juls anticipate Lionel Messi staying at Barcelona, but caution that nothing is certain. (1:06).Messi's contract is 'until ink is dry' (:06).Joan Laporta, president of Barcelona, says La Liga's financial fair-play rules prevent Lionel Messi from signing a new contract with the club.Messi, 34 years old, was made a free agent on Thursday after his contract with Barca expired.Messi at Barcelona: The greatest history- La Liga on ESPN+ : Stream LIVE games replays (U.S. Only)Javier Tebas, president of La Liga, has warned Catalan clubs to make cuts in order to register any new Messi deals before next season.On Thursday, Laporta stated to Onda Cero that he wanted Leo to stay."We still have to resolve the financial fair play issue... We are in the process of finding a solution that works for everyone."Barca was the Spanish company with the highest salary cap, at 671 millions per annum, prior to the pandemic. However, this had almost been halved to 347m as of March.Last summer, the clear-out started with the departures from Luis Suarez and Arturo Vidal. However, Barca must further reduce its wage bill in order to register Messi’s new deal and their four summer signings, Sergio Aguero and Eric Garcia.Barca has so far been unable to sign fringe players in the transfer window. Juan Miranda, Jean Clair Todibo and Matheus Fernandes all left. Junior Firpo, a left-back, is also moving to Leeds United.The club has hit a wall in trying to get rid of high-earners. There has been no movement on Neto or Samuel Umtiti, Philippe Coutinho, Miralem Pjanic, Philippe Coutinho, or Philippe Coutinho.Barcelona's Lionel Messi has been terminated from his contract. Photo by JOSEP LAGO/AFP via Getty ImagesAccording to sources at the club, they anticipate things will accelerate once Euro 2020 and Copa America are over. They're also looking into other ways to lower the wage bill.Transfers could help Barca increase their salary cap for next year.Messi's final four-year contract, which ended on June 30, was worth more than 500m, including signing fees, salary, bonuses, and image rights.Barca can't afford to pay him the same rate so they are looking at ways to compensate him over a longer period of time, to make sure he doesn’t have to take a huge pay cut.There are options. He could be paid in an ambassadorial capacity if he decides to leave Barca in Major League Soccer within a few years. After that, he may have the opportunity to return to the club in a backroom position.Messi was officially registered as a Barcelona footballer in 2001. Since then, he has been contracted to the club.Josep Maria Bartomeu, then-president of Argentina, refused to let him go last summer. Bartomeu was replaced by Laporta and ESPN reported on Wednesday that Messi has become more open to the possibility of extending his stay at Camp Nou.Paris Saint-Germain and Manchester City have been closely following the situation for six months, but neither seems ready to make a serious bid for the Argentina international.The significance of Messi's free agency didn't go unnoticed. Former club Newell's Old Boys invited him back on social media while Brazilian minnows Ibis Sport Club promised him "the most difficult time in the entire world" if they joined him.