Azernews.Az

By Bloomberg

A Brazilian investment company is demanding at least 16 million euros ($20 million) from Barcelona forward Neymar and his former club, Santos, a year after the player moved to Spain for almost 60 million euros.

The 22-year-old’s move to Barcelona in May 2013 led to the exit of the president of the four-time European champion and the team revealing that the price was much higher than the announced cost of 17.1 million euros. The final outlay was more than 57 million euros, including payments totaling 40 million euros to a company controlled by his parents.

Santos didn’t own all of the rights to Neymar, selling some to investment group DIS Esporte in a type of transaction common in Brazil and Latin America. After his sale, DIS, controlled by supermarket chain owner Delcir Sonda, got 6.84 million euros for a 40 percent stake it bought for 5.5 million reais ($2.14 million) in 2009. Based on the actual value of the transaction it should get at least 16 million euros more, DIS Executive Director Roberto Moreno said.

“We are seeking as a minimum 16 to 18 million euros,” Moreno said yesterday by phone from the U.S., where he was accompanying the Brazil under-17 national soccer team. “We have received some documents, but not all the ones we are asking for.”

Court Appeals

DIS has sought assistance from Spanish courts, which refused an application that sought to force Neymar to reveal details of his transfer in court, Moreno said. He’s filed another petition there to compel evidence from Barcelona, he added. Barcelona spokesman Chemi Teres declined to comment and Neymar’s lawyer, Gustavo Xisto, said he needed to seek permission from the player before he could comment.

Santos got no more than 17.1 million euros, and the promise of a further 2 million euros should Neymar be voted among the three best players in the world, the club said in a statement. Santos is trying to find out the contents of contracts between Barcelona and a company set up by Neymar's parents, the club said, adding that so far Barcelona and Neymar's father have cited confidentiality clauses and not released the details.

The case comes amid a proposed ban by soccer’s governing body FIFA on companies like DIS investing in athletes. Moreno said DIS “isn’t scared but concerned” about changes to the industry. He said the company is taking steps to ensure it could carry on making money in soccer’s transfer market, where globally more than $3.5 billion is spent on buying players annually. It has invested in 80 players, he said.

“We could consider other ways of investing like buying an entire team or to be a financial partner of a club with a charge on the income generated from the sale of players,” Moreno said.

DIS had invested in several Santos players, including Paulo Henrique Ganso, who now plays for Sao Paulo. The company has stopped dealing with Santos until the Neymar case is resolved and asked the team to repay money it’s invested in current squad members, Moreno said. The deal for Neymar was made with a previous board of directors.

‘Other Youngsters’

“Here in Brazil we always have to use the law to receive money back,” Moreno said. “When you’ve done a deal with the old directors you are persona non grata to the new board.”

The case won’t prevent DIS from investing in soccer talent, Moreno said. The company has invested in Lincoln, a Gremio player who was in the U.S. for an under-17 match last night in Florida. Moreno described him as a “craque,” a local phrase used for star players.

“We have many other youngsters who’ll be profitable for us,” he said.