Santos agree Neymar image-rights repayment plan running until 2033

Santos have reached an agreement with Neymar’s father to restructure the outstanding image-rights payments owed to their captain, with the Brazilian club set to pay about 1m Brazilian reais (£…/$…) per month until the middle of 2033.

According to Brazilian outlet Globo Esporte, Santos have recognised a total debt of 90.5m Brazilian reais relating to Neymar’s image rights.

The club paid the player more than 11m reais in July, reducing the amount still owed to 80m reais. That remaining sum is equivalent to about $15m.

Under the agreement, Santos will make monthly payments of 1m reais. The arrangement was designed to give the club a repayment schedule that it can manage without placing further pressure on its cash flow.

The deal means the debt is expected to remain in place until mid-2033. Santos could, however, make further payments in advance if their financial position allows, which would reduce the outstanding balance and shorten the repayment period.

Neymar’s current contract with Santos expires at the end of this season. No negotiations have yet taken place between the player and the club over a new deal.

The forward has played 21 matches for Santos this season in all competitions, contributing to 15 goals.

Santos are 14th in the Brazilian league with 26 points. They have also reached the quarter-finals of the Copa do Brasil and the Copa Sudamericana, keeping them in contention for both trophies.

The agreement with Neymar’s father addresses the club’s existing financial obligation to the player while allowing Santos to spread the payments over a long period. The monthly figure was agreed as a level the club could sustain, rather than attempting to settle the full amount immediately.

The 90.5m reais figure covers the image-rights debt acknowledged by Santos, while the payment made in July brought the amount outstanding down to 80m reais. The club’s proposed schedule will therefore continue for several years unless it is able to reduce the balance through additional advance payments.

Neymar remains Santos’ captain and has contributed to 15 goals in his 21 appearances during the current campaign. Despite their position in the Brazilian league, the club remain involved in two cup competitions, having progressed to the last eight of both the Copa do Brasil and the Copa Sudamericana.