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Messi, 34, was a free agent at the end of June after his contract at the Camp Nou expired.
The Argentine superstar was heavily linked with both Manchester City and Paris Saint-Germain amid uncertainty over his future at Barcelona.
However, Messi is now set to commit his long-term future to the Spanish club after his recent triumph with Argentina at this summer's Copa America.
The Barcelona forward's new deal will last until 2026, with Messi's hefty salary reportedly slashed by half.
Messi's previous deal reportedly earned him a staggering £123m a season, but Barcelona have struggled financially due to the impact of the coronavirus pandemic.
The Argentina international's new contract announcement is dependent on Barcelona reducing their wage bill, with the club set to sell players in order to fund Messi's salary.
Jordan launched a scathing rant on the "enormous salary" that Messi commands and insisted his arrival would not have sent a positive message to the "poor underpaid Premier League stars."
The 52-year-old ex-Crystal Palace chairman added that the six-time Ballon d'Or winner would not have been the same Messi that fans wanted to see in the Premier League.
"I don't want our league to be turned into the Harlem Globetrotters or a replication of the Galacticos mentality," Jordan told talkSPORT.
"The facts of the matters is if you get Lionel Messi now, he's not the Messi you would have wanted to have seen.
:x: "He isn't the Lionel Messi that you would have wanted to see."
:blush: "I'm not sad not to see him and his enormous salary rock up here."
:flag_es: "I'm pleased he's staying at Barca in the dreadful Spanish league."@SJOpinion10 says he's happy that Messi won't be coming to the PL! pic.twitter.com/719rHePidL
- talkSPORT (@talkSPORT) July 15, 2021
"It's like Floyd Mayweather fighting Manny Pacquiao when he did. It was a good fight but it wasn't the fight we wanted to see.
"I'm not sad to not see him rock up here. I'm not sad to see the mentality of this enormous salary be brought into the Premier League so our poor underpaid Premier League stars can say, 'Hang on a second by that level, we're underpaid.'
"So I'm pleased he's staying with Barcelona. I'm pleased he's staying in that dreadful Spanish league where they have the audacity to point a finger at our league and say that we break the transfer records."
Barcelona are reportedly eyeing up a swap deal involving Antoine Griezmann for Atletico Madrid star Saul Niguez as they trim down their wage bill.
The La Liga club have already sold the likes of Carles Alena, Jean-Clair Todibo and Junior Firpo this summer.
Featured Image Credit: PA
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