Neymar signs new Santos deal

Brazilian starlet Neymar has signed a new deal with Santos, ending months of speculation over a potential move to Real Madrid or Barcelona.

Amid reports that he was set for a transfer to La Liga in 2012, Neymar’s agent confirmed on Wednesday that the 19-year-old has negotiated a lucrative new deal with Copa Libertadores holders Santos.

The contract duration, which currently runs until 2015, remains unchanged, but the Brazil international will receive a substantial pay rise as well as an increase in the buy-out clause.

The striker’s agent, Wagner Ribeiro, said his client was delighted at having the chance to stay on.

“Neymar is happy to be able to remain with Santos until at least 2014, after that he will decide where to go,” Ribeiro told Lance on Wednesday.

Santos are now expected to announce the move officially as details over Neymar’s new deal emerge.

The Brazilian is expected to earn around 1.2 million euros per month, while his buy-out clause, believed to be around 45 million euros, is set to increase.

Spanish giants Barcelona and Real had been linked with the youngster in the off-season, but Santos had announced they were looking to tie the player down to a new deal.