Neymar is staying at Santos for the remainder of the season - at the very least.

Neymar has told Real Madrid and Barcelona he will not be leaving Santos in January. Instead, the midfielder will pen a new one-year contract extension to keep him in Brazil until 2016.

Santos' new offer will match Real's tabled contract - €5 million-a-year, plus advertising bonuses.

"For Neymar it has been difficult to make this decision," his adviser, Duda, told AS. "He was very excited to go to Europe, but he knows that if he arrives mid-season everything will be more difficult."

 Click here to reach the No1 destination for hard news and exciting gossip on Real Madrid.