Barcelona to pay €5.5M fine over Neymar tax fraud case

Barcelona has agreed to pay the €5.5-million fine for tax fraud relating to Neymar's transfer from Santos in 2013.

Investigations in Spain and the forward's homeland of Brazil revealed the Catalan giant failed to disclose a chunk of his transfer fee, thereby avoiding the tax incurred from the additional amount paid to Santos.

A statement on the club website confirmed it approved a settlement agreement, while also revealing it had been cleared of any wrongdoing in 2014:

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 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 boardroom voted to cover the fine, meaning former president Sandro Rosell and his successor and incumbent chief Josep Bartomeu are cleared of illegal behaviour surrounding Neymar's move.

The transfer was a complex one including multiple contracts, and Barcelona's initial claims that the deal cost around €57.1 million fell some way short of the estimated €100-million figure.