Chelsea’s hopes for Neymar dashed as he signs deal

Chelsea target Neymar has ended transfer speculation for the time being by signing a new contract at current club Santos.

The Brazil international has shot to worldwide fame over the last 12 months after impressive performances for club and country, and has been heavily linked with a move to Europe.

With Chelsea, Barcelona and Real Madrid all seemingly ready to pay the striker’s €45 million buy-out clause, the Copa Libertadores holders have moved to keep their star man in South America.

It has been revealed that the attacker has received a substantial increase in wages to stay at Vila Belmiro, and his buy out clause has now also been increased.

“Neymar is happy to be able to remain with Santos until at least 2014, after that he will decide where to go,” the starlet’s agent Wagner Ribiero confirmed to Lance.

Santos president Luiz Alfaro Ribeiro de Oliveira admitted that the forward’s buy-out clause had been increased but would not reveal what to.

The Brazilian executive also stated that the length of Neymar’s new deal matched his previous contract, which expires in June 2015.

By Gareth McKnight