Barcelona have reportedly verbally agreed a new contract with Fermin Lopez.
There was widespread speculation surrounding Fermin's future during the recent summer transfer window, with Chelsea making a strong attempt to sign him.
Manchester United are also admirers of the Spain international, but according to transfer expert Fabrizio Romano, Barcelona have now come to an agreement with the attacker over a new deal, which is expected to run until June 2031.
Fermin has been a vital player for the Catalan giants this season, scoring 10 goals and registering 10 assists in 25 appearances in all competitions.
The 22-year-old has five goals and two assists in six Champions League fixtures this term, in addition to coming up with four goals and four assists in 15 La Liga outings.
Fermin 'agrees' new long-term deal at Barcelona
In total, Fermin has represented Barcelona on 113 occasions in all competitions, scoring 29 goals and registering 21 assists in the process.
Chelsea are believed to have been planning another approach for the Spaniard this summer, but the new contract will rule out any chance of a departure at the end of the season.
Fermin is expected to be involved when Barcelona round off their Champions League league stage campaign against Copenhagen on Wednesday night.
The Catalan outfit are currently ninth in the overall table and need to beat Copenhagen to stand a chance of finishing in the top eight and securing a spot in the round of 16.
Barcelona vs. Copenhagen: La Liga champions aiming to secure last-16 spot in Champions League
“I love it. That’s what it’s all about. We have a great chance of finishing in the top eight. We will do everything possible to achieve this," Barcelona head coach Hansi Flick told reporters during his pre-match press conference.
"I like the new format. We have to go step by step. We have to respect Copenhagen, who have a fantastic team. I want to play at our highest level.
"First, keep a clean sheet and then score goals. We’re focused on our own game, on what we have in front of us. We have a tough match against Copenhagen.
"We won’t make excuses, and we’re eager and confident. We’re focused on our style, on how we play. This is the Champions League, and it’s about reaching our highest level.”
Barcelona have a record of four wins, one draw and two defeats in the Champions League this season, scoring 18 times and conceding 13.