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Santos refuse to compromise over Neymar

Santos president Luis Alvaro de Oliveira Ribeiro has warned Chelsea they will have to pay Neymar's R$ 80 million (£28.75 million) release fee if they are to sign him.

Chelsea weighing up new Neymar bid

Neymar, 18, is considered one of the brightest young talents in Brazilian football and he opened his account for the national team in their 2-0 victory over USA this week.

Chelsea have already seen a bid rejected for Neymar, but it is reported that their chief scout, Michael Emenalo, was in New Jersey alongside agent Pini Zahavi to see his Brazil debut.

Santos have already indicated that they would not be willing to part with Neymar for anything less than his release clause, and the club's president has reiterated that stance. "The clause is there," he told the Brazilian press. "If they pay it, they can take him."

Nonetheless, the Daily Telegraph says Chelsea, who have been tracking the player for two years, are confident of tying up a deal for between £20 million and £25 million in the near future. However, the Daily Mail reports that Santos are considering reporting Chelsea to FIFA for tapping up the player.

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