Barcelona's Pedri signs deal with club record €1 billion release clause

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The contract for Pedri, a teenage Barcelona midfielder, has been renewed through 2026. It includes a release clause of 1 billion dollars ($1.57 billion), according to the Catalan club.

Pedri's contract was due to expire at season's end. Barca decided to tie him down to new terms once the transfer window had closed in the summer.

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The release clause for the Spain international has been more than doubled (it was 400 million previously) to create a new club record.

Antoine Griezmann signed a contract in 2019 that included an 800m buyout option. This was the previous record. During his time at Camp Nou, Lionel Messi's clause was worth 700m.

Pedri will be 19 years old in November. He has had a great 14-month run since joining Barca in 2020 from Las Palmas for an initial fee around 5m. The deal could be worth up to 25m to the Canary Islanders if it includes add-ons.

He made 52 appearances in the senior team's first season, and became a regular midfielder alongside Frenkie de Jong and Sergio Busquets.

He was also recognized internationally for his performances. Luis Enrique, Spain coach called him up in March for his first cap. He went on to become a key player at La Roja's Euro 2020.

After a semifinal defeat to eventual winner Italy, he was named the Young Player of the Tournament. He was the only Spanish player on the Team of the Tournament.

Pedri was also part the Spain team that traveled to Japan for the Olympic Games. They won a silver medal in the final against Brazil.

He is now among the 30 nominees to the Ballon d'Or, the only Barca player, and is also up for the Kopa Trophy or the Golden Boy award, which are prizes for the best young player in the game.

Sources told ESPN that Pedri was granted a contract extension and that Barca hopes other young stars Ansu Fati (Gavi) and Ronald Araujo (Ronald Araujo) will sign new contracts in the next few months.