Marc ter Stegen signed a new deal with Barcelona on Friday, which will keep him with the Spanish club until 2028.
Barcelona announced that the German international now has a buyout clause of 500 million euros.
Ter Stegen made his debut for the club in 2014 in a Champions League game against Apoel Nicosia after joining Borussia Mönchengladbach.
The 31-year-old has made 379 official appearances for the club and currently ranks fourth in the all-time appearance list for Barcelona goalkeepers.
Ter Stegen has won over 15 trophies at the club, including 5 league titles, 5 Copas del Rey, 1 Champions League, 3 Spanish Super Cups, 1 European Super Cup, and 1 Club World Cup.