Santos Plan Payment Stretch to Renew Neymars Contract

Santos are negotiating Neymar’s contract renewal by proposing to spread out the £13 million (R$ 85 million) debt in image rights over 12 to 18 months. Despite Neymar’s salary (R$ 4.14 million) being current, delayed payments stem from operational needs. Notably, 75% of sponsorship revenues since Neymar’s return go to his company, NR Sports.

Coming to the latest development at Santos FC, the club is working on a financial strategy to retain Neymar beyond his current contract, which expires on June 30. According to UOL, Santos owes Neymar R$ 85 million (approximately £13 million) in image rights, due by July 30, but lacks immediate funds to settle the amount. Instead, the club plans to renegotiate terms, aiming to spread the payment over 12 to 18 months.

Talks have already begun, involving club president Marcelo Teixeira, Neymar, and his father. While Neymar’s salary, worth R$ 4.14 million, is reportedly up to date, the larger dues relate to revenue generated from marketing and sponsorships since his return. Santos had promised Neymar 75% of all new sponsorship revenue following his arrival, including from the headline deal with 7K worth R$ 105 million.

The club has collected significant funds but has diverted them toward daily operations, delaying the image rights payment. Notably, Santos will continue to pay Neymar’s share from sponsorships for a year even if he departs after June 30, due to agreements signed before the contract deadline. The club remains committed to a renewal and hopes to finalize terms soon.