Umtiti is part of the France squad which will take part in the upcoming World Cup in Russian Federation, and scored in the friendly win over Italy on Friday night.
His talents have not gone unnoticed, with United boss Jose Mourinho an apparent admirer as he looks to rebuild the Red Devils defence this summer.
Partly because of that low buy-out fee, Umtiti has drawn attention from a number of top clubs around Europe - Manchester United were prepared to meet it to whisk him away to Old Trafford.
Umtiti has racked up 83 appearances for Barca in all competitions to date, scoring two goals.
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The details surrounding his new buyout clause and total wages should become clear when he puts pen to paper on Monday.
In his debut season he lifted the Copa del Rey, a feat he repeated in 2017-18 along with La Liga as Barcelona completed a domestic double in Spain.
While no mention was made of a release clause in his new deal yet, the club are expected to announce an increase on the original £53m in his current contract on Monday, with Mundo Deportivo reporting it will be €500m.
Umtiti recently fuelled even more speculation linking with the Premier League runners-up by refusing to rule out a move, insisting he would only make a final decision on his future after the World Cup.