Neymar’s move could inflate transfer costs NEYMAR PAYS BARCA BUYOUT, SIGNS FIVEYEAR DEAL WITH PSG
NEWDELHI: Brazilian forward Neymar is set to move from Barcelona to Paris Saint-Germain (PSG) in a world record deal worth 222 million euros.
It is a figure that is unlikely to be surpassed anytime soon, and is expected have a lasting effect on European football.
The record transfer is likely to have three-fold ramifications – financial, political and the footballing dynamics at PSG and elsewhere.
EFFECT ON MARKET
The most talked about aspect of Neymar’s transfer will undoubtedly be the fee paid for him to Barcelona. The overall cost of the transfer will, however, be much higher than the 222 million euros that will go towards the player’s release clause.
As per some of the reported estimates, Neymar will be signing a five-year contract which will earn him an after-tax salary of 575,000 euros per week. Bonuses and wages will take the total cost of the deal to around 500 million euros over five years.
A deal of such proportion is likely to have major repercussions on the transfer market. A transfer worth over 200 million euros may beef up player prices in a market that has witnessed high inflation in recent times.
This will put a number of clubs, including Barcelona, who will be looking to replace Neymar with someone like Philippe Coutinho of Liverpool, at a major disadvantage.
“I think he’s expensive in the fact that now you are going to have more players at 100 million pounds, you are going have more players at 80 million and more players at 60 million. And I think that’s the problem,” Manchester United manager Jose Mourinho summed up the clubs’ dilemma in a press conference on Wednesday.
Oryx Qatar Sports Investments (QSi), a wing Qatar’s sovereign wealth fund, had bought PSG in 2012.
QATAR’S SHOW OFF
Despite a number of high-profile signings over the years, the acquisition of Neymar will undoubtedly trump all the other signings in the club’s history. Given the current embargo on Qatar by four gulf countries, Saudi Arabia, UAE, Bahrain and Egypt, Neymar’s signing bears even greater significance.
With the country’s economy taking a hit following the diplomatic crisis, Neymar’s signing is being seen in many circles as Qatar flexing its financial and political muscles.
The most important aspect of the transfer, however, is how it will alter the footballing dynamics at PSG, as well as at other clubs.
Many see Neymar’s move from Barcelona to PSG as a downward step.
The Brazilian thrived in a front three partnership at the Catalan club, alongside Lionel Messi and Luis Suarez, scoring 105 goals in 186 appearances over the course of four seasons.
However, given his own stature, it is plausible that Neymar may see the transfer as a way of stepping away from Messi’s shadow and cementing his own brand as a global football icon.
At PSG, Neymar will undoubtedly be the club’s biggest star. The transfer will embolden PSG’s quest for a Champions League title, while the player will hope that success in Europe will propel him to the Ballon d’Or honour.
Neymar’s move, however, could cause a domino effect in the European transfer market, with Barcelona, already aiming to counter the dominance of arch-rivals Real Madrid, almost certain to reinvest the Neymar fee on a big-name replacement like Coutinho. LONDON: Neymar’s world record transfer to Paris St Germain is close to completion after his club Barcelona said that the player had paid the 222 million euro release clause. Soon after there were unconfirmed reports from Paris that the striker had signed a five-year deal. The details though were not known yet.
“On Thursday afternoon, Neymar Jr’s legal representatives visited in person the club’s offices and made the payment of 222 million euros in the player’s name with regards to the unilateral termination of the contract that united both parties,” Barcelona said in a statement. “As such, the club will pass on to UEFA the details of the above operation so that they can determine the disciplinary responsibilities that may arise from this case.
LA LIGA REJECTION
MADRID: Spain’s La Liga refused to accept the payment of Neymar’s 222 million euro ($260 million) buyout clause on Thursday, delaying the Brazilian’s world record move from Barcelona to Paris Saint-Germain.
However, legal experts believe La Liga won’t be able to prevent PSG pushing the transfer through. “We can confirm that the legal representatives of the player attended La Liga to pay the clause and this has been rejected,” a La Liga spokesperson told AFP.
La Liga president Javier Tebas has been an outspoken critic of PSG’s move to snatch one of the Spanish league’s biggest stars. Tebas believes the astronomical sums being spent by the French giants, including a reported 30 million euro salary after tax for Neymar, makes it impossible for them to comply with financial fair play regulations (FFP).
“La Liga is an entity that defends the interests of the clubs and right now it is defending Barcelona,” said Marcos Galera, a lawyer and founding member of Spanish sports law specialists Agaz. But if you follow literally Spanish legislation, they had an indemnity clause agreed .... and if you have a clause agreed, you have to abide by it.”