Marc-André ter Stegen, the goalkeeper for Barcelona, has inked a new contract that will keep him with the club until 2028.
Sources reported last week that the Germany international will defer a considerable portion of his salary to help the club create salary space for the upcoming season.
Ter Stegen’s previous contract with the La Liga giants was set to expire in two years, but he has consented to extend it.
On Friday, Barcelona issued a statement confirming that the release clause of his new contract has been set at €500 million ($540.4 million).
Ter Stegen, the first-string goalkeeper for Barcelona, has been with the Catalan club since 2014, when he arrived from Borussia Monchengladbach.
He has made 379 appearances for the club and won 15 trophies, including five La Liga titles, five Copas del Rey, and one Champions League.
Last season, he was instrumental in Barca’s La Liga triumph and allowed just 18 goals in 38 matches. Ter Stegen was deemed the best goalkeeper in the competition after recording 26 shutouts.
Ter Stegen is positioned fourth, behind Antoni Ramallets (384), Andoni Zubizarreta (410), and Valdes (536).