Contracts

Legendary German midfielder Bastian Schweinsteiger has elected to re-sign with Major League Soccer’s Chicago Fire for an additional year on a Designated Player contract for the 2018 season. The Fire paid Schweinsteiger $5.4 million last year, but details have yet to be released concerning the new contract.

American midfielder Keaton Parks only made his competitive debut for Benfica on November 18, but the 20-year-old native of Plano, Texas, has shown enough with the reserve team to have his contract extended until 2022. Benfica have also reportedly placed a release clause of nearly $50 million on the player.

Monday marked Contract Deadline Day in Major League Soccer, meaning that all clubs (apart from the four still participating in the MLS Cup playoffs) had to announce which player contract options they’d picked up and which players they’d effectively cut. 

Lionel Messi has extended his Barcelona contract through the 2020-21 season, putting an end to growing speculation that the five-time Ballon d’Or winner was looking to negotiate with other clubs come January. Messi has now committed himself to the Camp Nou until the age of 34.

According to a statement from the club, the buyout clause is set at €700 million ($835m). By the conclusion of the 2020-21 season, Messi will have spent 17 years with the first team.

According to a report from Norwegian broadcasting company NRK, Norway’s men’s national team has agreed to a pay cut with the money then going to the women’s side, resulting in equal pay from the Norwegian soccer federation beginning in 2018.

Speculation over the future of FC Barcelona midfielder Andres Iniesta was emphatically squashed Friday with the signing of a lifetime contract, keeping the Spanish international at the club for the remainder of his playing career and ostensibly into a non-playing capacity after retirement.

Two of Real Madrid's hot young things, 21-year-old attacker Marco Asensio and 24-year-old center back Raphael Varane, have signed contract extensions that will keep them at the club until 2023 and 2022, respectively.

Real Madrid and Karim Benzema have agreed to terms on a two-year contract extension with the striker now set to stay until 2021, past the Frenchman’s 33rd birthday.

Isco, the best player in the world on current form according to The18's Connor Fleming, has agreed to a new contract at Real Madrid that runs through the 2021-2022 season.

Here's Real Madrid's official statement: