Xavi Hernández will return for another year as manager of FC Barcelona, per Fabrizio Romano.

The decision came after a Wednesday night meeting at the home of FC Barcelona president Joan Laporta, Romano reported.

Hernández originally announced in January that he would leave after June 30, despite his contract running through summer 2024. He has served as coach since November 2021.

The extension Hernández, 44, signed with the club in 2023 included an optional year that could potentially bring his tenure through June 2026.

Hernández inked the deal after leading Barça to the 2022-23 La Liga title and a Supercopa de España victory.

By the time Hernández announced his upcoming departure from the team following a home loss to Villarreal in January, the Catalan club had already lost out on the Supercopa repeat and looked prime to drop their La Liga title defense as well.

The coach's then announcement spurred Barça into a 13-game unbeaten streak.

Although that stretch proved not to be enough to propel Barcelona through the Champions League or back into the La Liga title race, ESPN's Sam Marsden and Moises Llorens reported neither result impacted Barcelona's campaign to retain their coach.

Barcelona leadership partially hoped to keep Hernández for another season because of the team's finances, according to Marsden and Llorens. The two ESPN reporters wrote Wednesday that the club's debt is threatening to impact its ability to extend and sign players this summer.

Those financial limitations would likely also limit club's options as they searched as a replacement for Hernández, as noted by Dermot Corrigan of The Athletic.

With Hernández now slated to return, Barcelona can return focus to recovering from the club's financial woes.

As a player, Hernández spent 24 years with Barcelona. Only Lionel Messi has played more games than his 767 appearances with the club.