La Liga champions, Barcelona has accepted to pay a mega €5.5million (£4.3million) fine over Neymar’s contested 2013 transfer in order to save the young Brazil international’s career and keep him at the Nou Camp.
Daily Mail UK reports that the deal with prosecutors will see the club avoid trial on tax evasion charges as well as save Neymar the hassle of grueling court proceedings.
“It was better to accept this pact than continue on with the uncertainty that has dragged on for a long time over the Neymar case,” Barcelona president Josep Maria Bartomeu was quoted as saying, in reference to the transfer deal that authorities believe was undervalued, allowing the club to pay lower taxes in Spain.
To officially confirm the agreement, Barcelona, in a statement its website, admitted that it had made an ‘error in tax planning’ over Neymar’s signing.
“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 statement read.
“The agreement involves the recognition by the Club of 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.’
Neymar, who missed Brazil’s unsuccessful Copa America campaign, scored 31 goals in 49 games for Barcelona last season as it won La Liga and the Copa del Rey.