Barcelona have revealed that an agreement with Alejandro Balde has been reached over a new contract.
There has been speculation surrounding the 19-year-old's future, with his previous deal at Camp Nou due to expire at the end of the 2023-24 campaign.
The Spain international was believed to have been the subject of interest from a number of leading clubs over the summer, and an advisor to Barcelona president Joan Laporta claimed that the defender was "in serious danger of leaving" Camp Nou during the recent window.
However, the Catalan outfit are always believed to have been calm when it comes to his future, and it has now been confirmed that Balde has agreed a deal until June 2028.
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"FC Barcelona and the player Alejandro Balde have reached an agreement for a new contract which will take the player through to 30 June 2028," read a statement on the club's official website.
Xavi's side also revealed that Balde's release clause has been set €1bn (£870m).
The Spaniard will officially put pen to paper on the deal on Thursday, with club president Laporta and the player then due to comment on the new contract.
Balde made seven appearances for Barcelona during the 2021-22 campaign before becoming a key player last term, featuring on 44 occasions in all competitions.
The left-back has also started this season in strong form, making five appearances in all competitions, including the full 90 minutes of Tuesday's 5-0 win over Royal Antwerp in the Champions League.
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Barcelona have now recorded back-to-back 5-0 victories, having beaten Real Betis by the same scoreline in the league last weekend.
"Very happy with the result. Saturday and today were my best games as a coach. An improvement in the way we play. It is a pride to see the team like this. We must continue," Xavi told reporters after the clash with Antwerp.
"The most important thing is to continue at this level and with the same enthusiasm and desire. Our positional attack was bad last season, but we have improved this season."
Barcelona will now be aiming to make it six straight wins in all competitions when they welcome Celta Vigo to Camp Nou in La Liga on Saturday evening.
