Barcelona starlet Pedri has reached an agreement with the club over a new long-term contract, pending an announcement.
The new deal will tie the 18-year-old to the Blaugrana until 2026 and includes an eyewatering release clause of €1bn.
Pedri rose to prominence last season, shining in a struggling Barcelona side before starring for Spain at Euro 2020 despite his tender years.
His current contract had been due to run out at the end of the 2021/22 campaign, but Barça made a renewal a priority and have tied the diminutive midfielder down on a fresh five-year deal.
According to journalist Fabrizio Romano, an agreement is in place between the club and the player over an extension until June 2026, with the various clauses involved 'agreed and fixed' and an announcement expected in due course.
Should anyone wish to prize the youngster away from the club without negotiating with Barça, it will cost them €1bn.
Pedri - who is currently out with a thigh injury - has been a shining light for Ronald Koeman's side in an otherwise dark 12 months. Although he doesn't turn 19 until November, the central midfielder has already made 56 appearances for the Blaugrana, scoring four times and laying on six more.
It was somewhat inevitable that Pedri would succumb to a muscle injury in the early stages of this season. Having made 52 appearances for Barça in all competitions last season, the teenager went on to star for his country at both Euro 2020 AND the Olympic Games in Tokyo.
By the end of the Olympics in August he had racked up 73 appearances since the start of the 2020/21 campaign, but still returned to Barcelona without a pre-season and played in two further La Liga matches before being given a two-week holiday.
Barcelona have endured a poor start to the season both domestically and in Europe, currently sitting eighth in the league standings and bottom of their Champions League group following back-to-back 3-0 defeats. Koeman will be hoping Pedri's return will provoke a serious uptick in form.