RIO DE JANEIRO – Brazil striker Neymar is staying with Santos and away from the big-spending European clubs for the time being.
The 18-year-old, considered one of the best young players Brazil has produced in years, had been linked to Chelsea of the Premier League. But that was before his current Brazilian team announced Thursday's deal.
Santos' president Luis Alvaro says reporters that bonuses and increased efforts at merchandising deals will increase Neymar's pay from $1.2 million annually.
Neymar scored a goal in his debut game for Brazil, Aug. 10 against the United States in a 2-0 win at the New Meadowlands Stadium.
He also helped Santos win this year's traditional Sao Paulo state championship and the Brazilian Cup.