Spanish soccer club FC Barcelona announced on Thursday that star forward Lionel Messi will not return to the team after the two sides could not finalize a new contract. The 34-year-old Messi has been a free agent since his previous contract expired June 30. It was reported in July that Messi and Barcelona tentatively agreed on a five-year extension; however, Barcelona has been unable to register Messi’s new pact with La Liga while complying with the Spanish soccer league’s financial fair play rules. Determined by La Liga, Spanish clubs must abide by a certain spending limit, which includes money spent on salaries and signings.

Barcelona said in a news release: “Despite having reached an agreement with Messi and with both parties clearly wanting to sign a new contract, it cannot be finalized due to financial and structural obstacles,” “Given this situation, Messi will not continue his relationship with Barcelona. Both parties lament deeply that the desires of the player and the club cannot be met. Barca would like to wholeheartedly thank the player for his contribution to the growth of the institution and wish him the best in his personal and professional life.”  Barcelona’s spending limit dropped from more than $700 million to about $410 million since the start of the COVID-19 pandemic, and the club’s salary cap is expected to decrease again for the 2021-22 season.

Messi, who is widely considered to be one of the greatest soccer players ever, has scored a club-record 672 goals and has helped Barcelona capture 10 La Liga titles and four Champions League trophies.

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