Barcelona and Luis Suarez have reached an agreement to terminate the striker's contract. The agreement is almost final and there are just a few final details to iron out before it's official. It means Suarez will be able to leave the club for free. The recision of the contract, which was due to expire in 2021, works out well financially for both parties.
Suarez will give up a percentage of the money owed to him and the option extend his deal until 2022 (which was dependent on games played in the upcoming season). In exchange, he's free to sign for whoever he want. Giving up part of his salary acts as compensation for letting him leave for nothing.
With the details almost over the line, Suarez can now step up negotiations with Atletico Madrid. The Rojiblanco will let Alvaro Morata leave for Juventus on loan and focus their attention on signing Suarez after his own move to Juve fell through. Contact has been ongoing for a while but has now sped up.