Barcelona have completed the signing of RB Leipzig's versatile forward Dani Olmo, the Catalan club confirmed on Friday.

Sources have told ESPN that the deal is worth an initial 55 million ($60m), with an additional 7m due in potential add-ons.

The Spain international has signed a six-year contract at the club until June 2030, with a release clause set at 500m.

Olmo, who was on the books at Barça until leaving for Croatia at the age of 16, becomes the club's first major signing of the summer as they continue to deal with the financial restrictions imposed by LaLiga's spending cap.

Barça stepped up talks to sign Olmo last week after growing frustrated in their attempts to sign Athletic Club's Nico Williams.

Sporting director Deco flew out to Leipzig earlier this week, where negotiations with the players' camp and the Bundesliga club yielded an agreement in principle on Tuesday.

Olmo, 26, then flew to Barcelona, with the transfer confirmed on Friday and the Spain international due to be presented on Friday before Monday's friendly against Monaco at the Olympic Stadium.

Sources say the signing of Olmo does not rule out a renewed attempt for Williams before the transfer window closes this month, although there remains an acceptance that signing the winger remains difficult.

After joining Barça's La Masia academy from local rivals Espanyol in 2007, Olmo left for Dinamo Zagreb in 2014 in search of a quicker path to first team football.

He made 124 appearances for the Croatian side before signing for Leipzig in 2020, where he won two DFB-Pokals and a DFL-Supercup, scoring a hat trick in the final last year in a 3-0 win over Bayern Munich.

"A young club, a young player ... We grew up, won our first trophies and made history together," Olmo said on Instagram, announcing his departure from Leipzig.

"Two Cups and the Super Cup are just some of the many unforgettable moments that'll always stay with me. Thank you RB Leipzig, you'll forever be in my heart."

Olmo has also excelled for Spain and played a major role in their victorious European Championship campaign this summer, scoring three times and providing two assists in his six games.