After discussions about a departure from Nou Camp, soccer legend Lionel Messi is reportedly staying with Spanish titans Barcelona on a new five-year contract.

The deal is reported to be a “significant wage reduction” from his previous deal of four years and $594 million that expired in June. The team was experiencing financial issues and team president Javier Tebas warned Barca they would not be allowed to register Messi’s contract if they were unable to reduce spending to comply with the league’s Financial Fairplay rules.

His legendary career with Barca nearly ended last year as he told then-team president Josep Maria Bartomeu of his intention to leave before the club decided to enforce a contract clause and upheld an $827 million buyout fee which made his departure impossible.

“I thought for sure I was going to leave, the president that at the end of the season I could decide if I stayed or not,” Messi said.

Bartomeu would later resign from his position and was replaced by Joan Laporta. Laporta had a good relationship with Messi and he was team president when Messi made his professional debut with the club. Laporta’s return was reportedly a “major factor” in Messi’s decision to stay with the club.

At 34, Messi continues to be a vital part of Barca’s attack, scoring 38 goals in 47 matches during the 2020-21 season.

On Saturday, Messi took home his first title with Argentina in a Copa America win against rivals Brazil.