FC Barcelona have announced the contract renewal of one of their hottest young prospects.

The club revealed the news approaching 14.00 local time in Catalonia on Tuesday afternoon by sending an announcement e-mail to members of the press and using their Twitter account.

"The Andalusian midfielder has reached an agreement with the Club to extend his contract until June 30, 2027 with a termination clause of €400 million ($432 million)," the e-mail began, in reference to highly-rated midfielder Fermin Lopez.

The Catalans further explained that Lopez "signed his new contract this Tuesday morning" with the manager responsible for youth football, the president of that area Jose Ramon Alexcano, and new sporting director Deco all present at an event held in the offices of the Joan Gamper CT.

Fermin Lopez has been on Barca's books since the age of 13 when he joined from the Real Betis academy much like "best friend" Gavi at his current employers.

Unlike reigning Golden Boy Gavi, however, his trajectory to Xavi Hernandez's first team squad has been neither easy nor straightforward.

Last season, he was sent out on loan to third-tier Linares where he scored 12 goals in 37 appearances.

In preseason, however, on his return to the Barca fold, he was one of a select group of reserve players invited to train with the seniors.

Fermin impressed enough to be invited on the friendly tour of the United States, and truly revealed himself to the football world with a riotous goal and assist display against Real Madrid who were thumped 3-0 in an Arlington, Texas edition of El Clasico.

Following this performance, a light was shone on Fermin's contractual situation which had him free to walk from the club in 2024 if not tied down to fresh terms.

The possibility of this potential slip up occurring has now been eradicated with today's key development, and Fermin has already made his La Liga debut with a bit part towards the end of the thrilling 4-3 victory over Villarreal on Sunday.

Though his deal might not boast the €1 billion ($1.08 billion) release clause that those of the others contain, Fermin is highly thought of at the club as one of the faces of its futures alongside Pedri, Gavi, Ronald Araujo and, possibly, Noah Darvich.

In the coming days, teenage prodigy Lamine Yamal should also put pen to paper on his first professional contract that comes with that same, PSG-proof 10-figure amount.

An unexpected injury to Pedri picked up in training last week might grant opportunities for Fermin to earn minutes over the next month and a half at least.