Victor Valdes has signed a new contract with Barcelona that will keep him at the club until 2014.
The goalkeeper had just one more season to run on his old deal and negotiations had been going on for some time.
Reports in Spain suggested that talks stalled on numerous occasions due to the huge wage demands made by the 27-year-old with the shot-stopper said to be holding out for 9million euros per season.
It is believed that the Barca number one has now settled for around 7million euros a season as the club look to build on their phenomenal treble achievements last term.
Despite having never been capped by Spain, Valdes has seen his reputation grow in recent years after initially having to fend off a number of doubters during the early stages of his Camp Nou career.
In a team where the attackers grab all the headlines it is often overlooked that the Catalans possessed the best defensive record in the Primera Division last time out with Valdes playing a pivotal role.
In fact Valdes was named as the league's best keeper for the second time in his career after initially winning it in 2005.
The upcoming season will be the Spaniard's seventh as first choice at Barca.