FC Barcelona has confirmed that Lionel Messi, the club's legend, will not be returning to the club.
This comes after the Argentina international decided not to renew his contract due to the club's financial condition.
After his original contract with Barca expired last month, he was prepared to accept a 50% pay cut from his previous deal, which was worth over £425 million over four years, in order to re-sign and allow Barca to re-register him with La Liga.
On the proposed new five-year contract, Messi's weekly salary would have been lowered by £250,000 every week.
'Despite having reached an agreement between FC Barcelona and Leo Messi, and with the clear intention of both parties to sign a new contract today, it cannot be formalized due to economic and structural obstacles (Spanish LaLiga regulations),' Barcelona said in a shocking statement on Thursday evening.
'In light of this, Lionel Messi will no longer be associated with FC Barcelona.' Both sides are profoundly disappointed that the player's and the Club's wishes cannot be realized.
'Barca wishes the player all the best in his personal and professional life and thanks him for his commitment to the institution.'