“Barcelona and Sergio Busquets signed this morning an agreement to renew the player’s contract, which will end on June 30, 2023,” Barça said in a statement.

“The player’s release clause rises from 200 million euros (RM960 million) to 500 million (RM2.4 billion).”

Barça have made a habit of inserting eye-catching release clauses in players’ contracts ever since Paris Saint-Germain snapped up Neymar from the Catalans for 222 million euros (RM1.071 billion) in 2016.

All-time top scorer Lionel Messi penned a new contract last year with a 700 million-euro (RM3.4 billion) release clause, while defender Gerard Piqué signed a deal with a 500-million-euro (RM2.4 billion) clause in January.

Busquets, 30, made his Barcelona debut in 2008 under Pep Guardiola, who was also his coach in the club’s reserve team.

His father Carles was a former team mate of Guardiola’s at Barça, where he spent nine years as a goalkeeper.

The midfielder has played 490 games for Barcelona, winning seven La Liga, three Champions League, and six Copa del Rey titles. He also lifted the 2010 World Cup and 2012 European Championship trophies with Spain.