Manchester United and Manchester City have been dealt a body blow in their pursuit of Barcelona midfielder Sergio Busquets as the Spaniard is set to sign a contract extension with the Catalan club till 2019 with an option for one more year.

Busquets will be with the club until 2019, with an option for one more year.

— SPORT English (@Sport_EN) February 26, 2015

Busquets who made his debut for the Spanish giants in 2008, will sign the contract on Friday lunchtime. The 26 year has won 16 titles with the Camp Nou outfit which includes four Liga crowns and two UEFA Champions League trophies.

Busquets to sign contract extension http://t.co/g8OuT8pI8Z pic.twitter.com/ozwhBDRWuD

— FC Barcelona (@FCBarcelona) February 26, 2015

Earlier Manchester United had registered an interest in the player who is rated at a whopping €75m by the Catalan club. City too were interested in the player who had in fact said that he would love to experience Premier League football one day.

With his new contract, midfielder Busquets becomes the 4th best-paid Barelona player, after Messi, Xavi and Iniesta. [sport]

— barcastuff (@barcastuff) February 27, 2015

Gianluca Di Marzio have reported that Busquets will now have a exit clause worth €175 million. He has made 23 league appearances under coach Luis Enrique this term, scoring one goal this season.