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Spanish High Court reopens Neymar fraud case

Xinhua, September 24, 2016 Adjust font size:

The Spanish High Court on Friday ordered the investigation into the transfer of Neymar from Brazilian club, Santos to FC Barcelona to be reopened less than three months after it had been closed due to a lack of evidence.

The decision was taken after a group of magistrates re-examined the contacts into the deal which saw Neymar join Barcelona in the summer of 2013 and consider there is evidence of corruption.

They considered the "free transfer market of footballers was altered," by hiding the true value of the 100 million euros transfer from DIS, the third-party investors who owned 40% of Neymar's transfer rights.

DIS subsequently launched legal action alleging that as a result of the true value of the sale, they were defrauded out of millions of Euros. Meanwhile by presenting the deal as cheaper than it actually was, the Spanish Treasury also considers Barcelona did not pay as much VAT (sales tax) as the club should have.

Contracts agreed in 2011 and 2012 stipulated Barcelona would pay a transfer fee of 40 million euro wages for the striker, who would earn 36.1 million euros over a five year period.

However, Public Prosecutors believe the second deal in which Barcelona paid 10 million euros which were purported to be a loan, but which were in fact an advance designed to assure the transfer went through.

Former Barcelona President, Sandro Rosell was forced to resign as a result of the scandal to be replaced by Josep Maria Bartomeu, who remains in charge of the club. Endit