Barcelona midfielder Gavi has revealed his delight at signing a new long-term contract at Camp Nou.

There had been speculation surrounding the 18-year-old's future, as his previous deal with the Catalan giants was due to expire at the end of the 2022-23 campaign.

Bayern Munich, Manchester United, Liverpool, Manchester City and Chelsea were among the clubs believed to be monitoring the teenager's situation at Barcelona.

However, it has now been announced that the Spain international has signed a new deal until 2026, with the contract including a buyout clause of £865m.

"I am very happy for the renewal, it is a dream that I had since I was young. With my family and agent we were always clear that we wanted to be here," Gavi said at his renewal presentation.

Gavi said that he has been able to deal with the recent pressure by "taking things as normally as possible", while he also paid tribute to La Masia for their role in his development.

"Taking things as normally as possible. La Masia has helped me a lot in that respect. Also the team and the staff. I carry it as best I can," the teenager added.

"It is something unique what you experience there (La Masia). I am very grateful to the chefs, the tutors... since I was young they have taught me to work and to be humble."

Barcelona boss Xavi was also asked about the renewal during his press conference on Friday and said that it was "the most important news of the week."

"It's great news, the most important news of the week. He's a leader, despite his age. He's matured, he's playing fluid football," the Barcelona manager told reporters.

Speaking at the unveiling, Barcelona president Joan Laporta also revealed his happiness at the deal.

"Today is a historic day because it represents the present, the immediate present and the future of Barca," said Laporta on Thursday.

"This renewal is a paradigm of talent, and effort, of a player who gives his all.... when I was a little boy at Barca they used to say this is a player who is doing his best, and Gavi is the one who is doing his absolute best."

Gavi was a vital player for his Catalan side during the 2021-22 campaign, making 46 appearances in all competitions, contributing two goals and six assists in the process.

The midfielder, who became Spain's youngest ever player last October, has also been key for Xavi's side during the current season, making seven appearances in all competitions.

Gavi, who only turned 18 last month, has scored twice and registered six assists in 53 appearances for Barcelona since making his debut last August.