💵 Santos aim to spread out £13m debt to secure Neymar renewal

Yahoo

2 days ago

Santos already has a plan to advance negotiations with Neymar for the renewal of the contract that ends on June 30.
According to UOL, the club will not be able to pay the R$ 85 million in image rights to the star by the established deadline, which is until July 30.
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The portal's report indicates that Santos believes it could cover the amount, but the strategy would be to negotiate the extension of the player's contract and the stretching of the payment over a new term of one or one and a half years.
In the market, "stretching" a debt means extending the deadline to pay that debt.
In other words, instead of paying within a set timeframe, the company (or person) starts to pay over a longer period.
According to UOL, there has already been a meeting between President Marcelo Teixeira, Neymar, and Neymar Sr., and more talks will follow.
The star's salary is up to date, in the work record, costing the club R$ 4.14 million.
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Santos estimates, says UOL, that it has already obtained the amount owed through marketing exploitation with Neymar.
However, the transfer of funds would not necessarily be automatic, as the club uses the money for other purposes in day-to-day operations – hence, it has not yet been paid.
Of the sponsorships sold after the star's arrival, 75% of the amount must be passed on to Neymar – only 25% remains with Santos.
The master sponsorship with the betting house 7K, which provides R$ 105 million to the club, is included, according to information from ge.
This revenue sharing will continue for one year after the current contract, for all contracts signed until June 30.
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Thus, according to UOL, even if the star leaves, Santos will continue to pay the equivalent part to NR Sports, Neymar Sr.'s company.
This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.
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