Madrid, July 2: FC Barcelona announced on Friday that Brazilian striker Neymar has signed a new contract with the club to keep him at the Camp Nou Stadium until the end of June 2021.

The contact comes just 24 hours after club President, Josep Maria Bartomeu told the press the deal would be signed in the coming days, Xinhua reported.

The new deal, as well as quite possibly making Neymar the "best paid" player in the world, according to his lawyer, Marcos Motta, also raises his buyout clause to 200 million euros for the coming season ($220 million), rising to 222 million euros for the following season and 250 million for the final three years.

Neymar and the club will officially present the new agreement on July 15, before he joins up with the Brazil squad for the 2016 Olympic Games.

The Brazilian's previous three years with Barca have seen him score 85 goals, while he has won eight titles.

IANS