Santos star Neymar has rejected a new contract offer tabled last week.

AS says Neymar turned down the new deal tabled before he left Brazil for Stuttgart. The Santos offer was worth a massive €7 million-a-year, but also included a rise in his buyout clause from €45-55 million.

Real Madrid president Florentino Perez is reluctant to pay Neymar's buyout clause as it would appear a hostile act.

Santos president Luis Alvaro Ribeiro confirmed: "Florentino told me he did not want to enforce the clause, he would prefer to reach an agreement."

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