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Pedri, a teenage midfielder, has signed a contract extension agreement with Barcelona. It includes a 1bn Euro (846m) release clause. The club has also announced external-link.
The new contract, which will be in effect until June 30, 2026, will be signed by the 18-year old. He is expected to sign it officially on Friday.
Pedri, who moved to Barcelona from Las Palmas on August 2020, played 53 games for Barcelona last season - the most by any player at the club.
He was also part the Spain team that reached the Euro 2020 semifinals.
Spain boss Luis Enrique began him for each of his sides' games at the tournament, as he impressed internationally.
Pedri's achievements earned him a place in Uefa’s tournament team.
After being beaten in the final by Brazil, the teenager helped Spain win the Olympic silver.
Pedri made four appearances this season for a struggling Barcelona, where the club was seventh in the Spanish top flight. They were also bottom of their Champions League group.
