Barcelona coach Xavi Hernandez has reached an agreement with his club’s management to renew his contract, which expires next summer, 2024. According to the Spanish newspaper “Marca”, Xavi will renew his contract with Barcelona for one season only, with his contract then expiring at the end of the 2024-2025 season.  Earlier, reports emerged that Barcelona and Xavi Hernandez had reached an agreement over a new contract for the latter. The 43-year-old tactician’s current deal expires in 2024 and as such, the two parties have been locked in negotiations to renew. Reports claimed that a breakthrough had been made and Xavi’s contract would be extended for two more years until 2026. It was also indicated that the announcement would be made sometime next week as sporting director Deco is away on vacation. The Spanish newspaper confirmed that, because of the Fair Financial Play Law, Barcelona is forced to renew Xavi’s contract for only one year until the summer of 2025, especially since the young coach demanded an increase in his annual salary, which makes Barcelona unable to sign for more than one year. The newspaper said that if Barcelona's economic situation improves after that, it is possible that Xavi's contract will be renewed for a second time, noting that at present the duration of the new contract will not be more than one year. Xavi took over the job of coaching Barcelona in November 2021, succeeding the Dutchman Ronald Koeman, who was dismissed due to poor results. The young coach enjoys great confidence from Barca officials after he succeeded in bringing the Blaugrana back to winning the Spanish League title after an absence of three years. The La Liga title that Xavi won last season with Barcelona is his first as a coach with Barcelona, noting that he previously won the Spanish Super Cup with the Catalan team at the expense of traditional rivals Real Madrid, bringing his total championships as a coach so far with Barcelona to two titles.