MADRID: Argentine star Lionel Messi on Friday signed a new two-year deal with Spanish and European champions Barcelona which will keep him at the club until 2016, the team announced on its official website.

A buy-out clause for Messi, 22, has also risen from 150 million to an even more staggering 250 million euros.

"I'd like to finish my career here at Barcelona," Messi told the club website. "I feel like I am playing with a formidable squad with a strong, unified team."

Although the club did not reveal details of Messi's salary, Spanish press have reported that he is currently paid between seven and eight million euros a year.

Sports daily Marca claimed recently that Messi's annual wages will rocket to around 10 to 12.5 million euros a year under the new contract agreement.

Messi, who has been at Barcelona since he was 13, is one of the world's most sought-after players.

Last year, he helped Barcelona to a treble trophy haul and scored in the Champions League final win over Manchester United.