Chelsea and Manchester City have been left waiting to pounce for Santos starlet Neymar.

The teenager's transfer rights were settled yesterday, with investment company DIS buying the 40 per cent of the 17 year-old's registration owned by his family. The remaining 60 per cent is held by Santos.

Neymar's agent, Wagner Ribeiro, had hoped to sell the 40 per cent to an English club - and revealed Chelsea had recently failed with a £3 million offer.

The new settlement includes Neymar signing a contract until 2014 with Santos, though DIS still intend to sell the youngster to a European club well before the contract expires.