Barcelona left-back Alejandro Balde is to sign a new five-year contract at the Nou Camp, the club have announced.

The new deal with the 19-year-old will contain a buy-out clause set at one billion euros (£865million).

The Spain international will formally sign the contract at a ceremony with president Joan Laporta on Thursday.

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A club statement read: “FC Barcelona and the player Alejandro Balde have reached an agreement for a new contract which will take the player through to 30 June 2028.

“The buy out clause is set at 1bn euros.”

Balde, a product of the club’s youth set-up, has established himself as first-choice left-back with the LaLiga champions over the past year.