Midfielder Ivan Rakitic extends contract with Barcelona till 2021

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Barcelona midfielder Ivan Rakitic has signed a new deal at Barcelona that will see him remain at Camp Nou until 2021.

Rakitic was left out of the starting line-up in the 4-0 defeat by PSG in the first leg of their Champions League last-16 tie but he played an important role in Wednesday's drubbing of the French champions. In a statement, the club added that Rakitic's buy-out clause has been hiked by 25 million euros to 125 million euros.

The Croatia global also has a new release clause of €125 million inserted in the deal amid rumoured interest from Manchester City.

The Croatian arrived at Barca from Sevilla in the summer of 2014 aged 26 and had been a key part of the side in the past three years, reports Xinhua news agency. Furthermore, became Barcelona boss Luis Enrique's favorite player that summer.

Rakitic has won eight trophies at Barca since moving from Sevilla in 2014, with one UEFA Champions League and two LaLiga titles among his haul.

Following his contract presentation, Rakitic will aim to help Barcelona retain top spot in a trip to the Riazor to face Deportivo La Coruña on Sunday.

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