Lionel Messi of FC Barcelona waves to the crowd before the Joan Gamper Trophy match between FC Barcelona and Arsenal at Nou Camp on August 04, 2019 in Barcelona, ​​Spain.

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Football superstar Lionel Messi will be leaving FC Barcelona after talks on a new contract have broken down due to “financial and structural obstacles” related to the Spanish league’s spending rules, the team said on Thursday.

FC Barcelona said the club and Messi had agreed to the terms of the contract and intended to sign the deal on Thursday. However, this deal was prevented due to La Liga regulations which limit a club’s spending relative to its earnings.

The 34-year-old Messi was first signed at the age of 13 through FC Barcelona’s youth program, La Masia. He has played for the top team since 2004.

During his tenure, he won the Ballon d’Or, which is awarded to the best football player in the world, six times a record, the last time he received this award in 2019.

Messi’s latest contract, signed in 2017, is worth $ 675 million.

“Although FC Barcelona and Lionel Messi have reached an agreement and both parties are signing a new contract today, this cannot happen due to the Spanish La Liga rules on player registration,” the club said on Thursday.

“As a result of this situation, Messi will not stay at FC Barcelona,” said the club.

“Both parties deeply regret that the wishes of the player and the club are ultimately not fulfilled.”

The club added: “FC Barcelona would like to thank the player wholeheartedly for his contribution to the growth of the club and wish him all the best for the future in his personal and professional life.”

Messi reportedly reached an oral agreement last month for a five-year contract extension at Barcelona, ​​with new terms including a 50% pay cut.

He officially became a free agent on July 1st after failing to agree on the terms to extend his contract before his previous contract ended on June 30th.

Messi is one of the most successful goal scorers in history.

According to the football statistics website FBRef.com, he holds the all-time record with 474 goals in La Liga games.

He has also scored 120 goals in the European Champions League after his former Real Madrid rival Cristiano Ronaldo.

Correction: This story has been updated to show that Lionel Messi is 34 years old.