Barcelona reportedly confident about Lionel Messi extension

Lionel Messi will become a free agent on Thursday, but Barcelona still are confident of agreeing to a new contract with the Argentinian, according to ESPN's Sam Marsden and Moises Llorens. 

Messi's deal expires Wednesday, and he has not yet signed a renewal to extend his stay in Barcelona. However, ESPN reports there is a "loose agreement" in place, and Barca are "pressing ahead" with the final details, aiming to announce the deal as soon as possible. 

Messi's last contract with the club was worth more than €500 million over four years, but Barcelona cannot afford to give him a similar deal this time around as they are more than €1 billion in debt.

ESPN reported earlier this year that Messi's new deal could be a two-year contract with the option for a third year. The club also wants to give him the option to finish his career in Major League Soccer.

Messi requested a transfer from Barcelona last summer but has grown more open to remaining with the club over the last year. The resignation of former president Josep Maria Bartomeu has been a major factor, ESPN adds. 

Manchester City and Paris Saint-Germain heavily pursued the 34-year-old over the last year. However, Barcelona was unwilling to move him for less than €700 million.