Barcelona's Croatian midfielder Ivan Rakitic celebrates after scoring during the Spanish league football match FC Barcelona vs Real Sporting de Gijon at the Camp Nou stadium in Barcelona on March 1, 2017. / AFP PHOTO / LLUIS GENE
Rakitic, 28, started on Wednesday as Barca recovered from a 4-0 first-leg thrashing to beat the French champions 6-1 and reach the quarter-finals for a 10th consecutive season.
“Barcelona can announce they have reached an agreement with Ivan Rakitic for the renewal of his contract until June 30, 2021,” Barca said in a statement.
“His release clause will be set at 125 million euros ($132.5 million).”
Rakitic has won eight trophies since joining Barcelona from Sevilla in 2014.
Among his 23 goals in 145 appearances was the opener as Barca beat Juventus 3-1 in the 2015 Champions League final.
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