Martinez has agreed a 12 month deal with the Saudi Pro League club with a one year's option.
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The former Spain international is due to undergo a medical today ahead of signing forms.
Martinez will move for free. Barca and the player have now reached an agreement to terminate his contract by mutual consent, saving Barça between €12-14m in gross wages.
The 33-year-old will join Cristiano Ronaldo, João Félix, and Sadio Mané in an increasingly ambitious squad.