Santos acknowledge R$90.5m Neymar debt, CT Meninos da Vila set as collateral | OneFootball

Santos have acknowledged a R$ 90.5 million debt to NR Sports, the Neymar family company. The addendum, signed late last year as part of an image rights renegotiation, sets the CT Meninos da Vila as collateral, Diário do Peixe reports.

The plan splits payment in two parts. R$ 26 million from the expired deal is to be paid in R$ 5.2 million instalments between January and May this year without indexation. The remaining R$ 64.5 million is scheduled in 43 instalments of R$ 1.5 million from June, adjusted by the IPCA/FGV.

Neymar’s contract with Santos runs to 31 December 2026. Under the timetable, the balance would be cleared in early 2030. The addendum also contains an acceleration clause, where a missed instalment would trigger immediate payment of the R$ 64.5 million.

Further conditions include the re-election of Marcelo Teixeira at year-end and the club’s future as a SAF. If the club becomes a Sociedade Anônima, liability for payment would transfer to shareholders. The document bears recognition from the Management Committee and signatures from representatives of Santos and NR Sports.

Using assets as collateral is not new in Brazilian football. In 2015 a little over R$ 2 million owed to Pelé led to Vila Belmiro being pledged. In 2019 a proposed pledge of the stadium over a R$ 6 million debt to the Teisa fund was rejected by the courts, as was a recent attempt by Internacional to use their training centre in a case involving the signing of Chilean Palacios.

Source: Globo.com