Not So Fast, Chelsea May Snag Neymar After All

Andre RojterCorrespondent IJuly 21, 2010

It appears the Neymar to Chelsea saga will continue even after an instant refusal of the offer made by his current club side Santos.

Santos officials confirmed they did receive an offer for the 18-year-old star at a value of €20 Million by the London club just yesterday, July 20.

They immediately declined the offer stating that unless a team was willing to pay the fee they set of €35 million, the next "Robinho" would remain in Brazil.

The problem for Santos is a bit complicated unless you are familiar with the rules regulating ownership of a players "pass" or "rights".

Unlike in England, teams in Brazil can sell of whatever percentage of a player they want to a third party or fourth and so on. This is done to facilitate the teams ability to pay for a bigger and better team without spending too much of its own cash.

In this case Santos owns just 60 percent of Neymar's rights and a third party named DIS Group owns the remaining 40 percent.

So if Santos demands €35 million for Neymar, Chelsea only has to pay them 60 percent of the €35 million which comes out to €21 million, a small raise for such a big club.

If that occurs the DIS Group can negotiate their own 40 percent with Chelsea in any means they see fit, and remember they "invested" in the player early on and want to reap the rewards.

Santos is stating that can not happen because in this case they require the full €35 million to be deposited with them and then they would in turn deposit the 40 percent value into a DIS Group account.

However, precedent in such cases suggest Santos won't be able to do that because back in 2005 they sold Robinho to Real Madrid for $30 million when the fee was set to $50 million and the remaining percentage that was owned by Robinho was moved to Real Madrid at no extra cost.

The Blues are basically waiting to hear a yes or no from the star who is apparently able to decide to go or stay. His representatives have already taken part in a video conference with Chelsea officials and will discuss the details with Neymar and family later tonight.

Two weeks ago, when Santos and Neymar rejected a €15 million offer from West Ham, Neymar was quoted as saying, "Well maybe if it was Chelsea I would go..." by his father, a São Paulo paper said today.

Don't worry Blues fans, if this doesn't work out in your favor I am sure you will find another player elsewhere you can overpay for.