Brazilian striker Neymar will remain with Santos, turning down the lure of Barclays Premier League champion Chelsea and other teams after the team made a deal for him.
The 18-year old sensation, who many consider to be the heir apparent to Ronaldinho and Ronaldo, had been linked to European clubs, especially Chelsea, for months.
Chelsea was prepared to sign him to a deal worth 55,000 British pounds per week, plus a 25 million pound transfer fee. However, on Thursday, Santos made a lucrative deal in order to keep him.
Santos president Luis Alvaro says bonuses and increased efforts at merchandising deals will increase Neymar's pay from $1.2 million annually, according to Associated Press.
Neymar scored a goal in his debut game for Brazil against the United States in a 2-0 win at the New Meadowlands Stadium on Aug. 10.
He also helped Santos win this year's traditional Sao Paulo state championship and the Brazilian Cup. Santos also retained another outstanding player Paulo Henrique Ganso, giving the team a strong trio with Robinho.
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