Santos delay Neymar debt instalments as NR Sports hold right to execute full sum | OneFootball

Santos have fallen behind on instalments agreed with NR Sports over debts from Neymar’s first contract, a deal struck in the first half of last year. According to Diario Do Peixe, the club failed to pay R$ 26 million due between January and May.

Under the fourth clause, missing any instalment gives NR Sports the right to demand the entire debt. The CT Meninos da Vila complex has been pledged as collateral.

A group of club councillors asked the Management Committee for proof of payment but received no evidence. Confidentiality clauses prevent disclosure of details, and NR Sports had not commented by publication.

The agreement totals R$ 90.5 million. Of that, R$ 26 million was split into five monthly payments of R$ 5.2 million from January to May, with the remaining R$ 64.5 million to be settled in 43 monthly instalments of R$ 1.5 million, indexed to IPCA/FGV and starting the month after the fifth payment is made in full.

Had the initial five been paid on schedule, the last of the 43 subsequent instalments would fall due on 30/12/2029. With the delay, and if the debt is not executed and terms remain in place, the schedule would run into 2030.

In April, during the club’s anniversary events, president Marcelo Teixeira stressed cordial relations between the parties and downplayed the prospect of a court dispute, describing it as a commercial arrangement. Both sides are focused on Santos’ restructuring.

Source: Diario Do Peixe