FC Barcelona settle Neymar transfer case

FC Barcelona have agreed to pay a fine of €5.5 million to settle the case involving the signing of forward Neymar from Brazilian club Santos in 2013, saying there was an “error in tax planning”.

Neymar joined Barça from Santos in the summer of 2013 and FC Barcelona claimed they paid €57 million for his signing with Santos receiving €17 million while the rest went to Neymar’s parents. Investigators however claimed that the fee was closer to €83 million with Barça hiding part of the deal but the club denied it.

Investment fund group DIS which owned 40% of Neymar’s sporting rights claimed they were given a smaller part of the transfer fee compared to what they actually are entitled to because Barça concealed the original transfer fee with Spanish prosecutors summoning the player and his father (who is also his agent) to stand trial for fraud.

However, it seems FC Barcelona have settled the case after agreeing to pay a fine of €5.5 million which will ensure they have no future economic issues concerning the case.

Club president Josep Maria Bartomeu confirmed that it has been approved by the board with a 14-2 vote and that the payment would be for the betterment of the club.

“We will pay a fine of €5.5 million for a tax error made in the signing of Neymar. We accept this offer to put an end to this legal process, always thinking in what is best for the club,” Bartomeu said in a press conference on Monday.

FC Barcelona also confirmed it on their official website with a club statement saying the board agreed to it and see it as a “positive step”, the statement reads:

“The Board of Directors, which convened for an ordinary session at the Club’s offices on Monday, has decided to approve the agreement presented by the Club’s Legal Services with regard to the case surrounding the signing of Neymar Jr, currently being heard in the Courts of the Province of Barcelona.

“The agreement involves the recognition by the Clubof an error in tax planning for the signing of the player, for the fiscal years 2011 and 2013, when they did not not correctly withhold payments resulting from his incorporation. In addition, the Club has been exonerated from responsibility for the fiscal year 2014, which was also part of the proceedings.

“The Board considers the approval of this agreement to be a positive step, one that puts an end to a situation of legal uncertainty that could have affected the viability of the Club’s sporting and economic plan in the coming years.

“Given the importance of this decision, the Board has decided to subject the motion to approval at the next General Assembly of Member Delegates.”