MADRID, SPAIN – MAY 22: Neymar of FC Barcelona celebrates after his team beat Sevilla 2-0 in the Copa del Rey Final between Barcelona and Sevilla at Vicente Calderon Stadium on May 22, 2016 in Madrid, Spain. (Photo by Denis Doyle/Getty Images)

In the United States, NBA free agency is slowly beginning and the NHL’s trade-frenzy start to the offseason is slowing down. Meanwhile, across the pond in Europe, one of the biggest sports franchises in the world just re-signed one of the world’s top athletes.

FC Barcelona announced Friday it has resigned Neymar Jr. to a five-year contract extension through June 30, 2021. The total of the contract hasn’t been released, but Barcelona did release some interesting figures. The buyout clause in the first year of the deal is 200 million Euros, 222 million the second year, and 250 for the final three years of the deal.

The deal will be made official and “presented formally” on July 15 before Neymar goes to Brazil to play for the host country in the Olympics.

Neymar, 24, joined Barcelona from the Brazilian club Santos back in 2013. Since joining the Spanish club, he’s been arguably the team’s second-best player behind Leo Messi. This past year in 2015, Neymar finished third in the 2015 Ballon d’Or race while Messi won the award.

Josep Maria Bartomeu, the President of FC Barcelona, spoke on Thursday about the team’s interest to retain Neymar. This came on the heels of rumors that clubs like Real Madrid, Manchester United, and Paris Saint-Germain would try and sign the Brazilian away.

“It is normal that other clubs are interested in him, but I am saying this clearly: Neymar has never told us that he wants to leave,” Bartomeu told reporters.

Neymar also hinted at the deal on Thursday.

About David Lauterbach

David is a writer for The Comeback. He enjoyed two Men's Basketball Final Four trips for Syracuse before graduating in 2016. If The Office or Game of Thrones is on TV, David will be watching.