Santos have rejected a bid from Barcelona for Neymar.
Santos vice-president Odilio Rodrigues has revealed that talks will continue with Barca, but he also admitted that they are expecting to talk with Real Madrid too.
"There is no agreement for Neymar, there are talks, I met [Barcelona's president Sandro] Rosell and [Barcelona's sporting director] Raul Sanllehi last week," he told Radio A Xarxa.
"We had a very frank conversation. Talks need to continue because the offer was not good enough."
He confirmed that Santos are expecting Real to lodge a bid shortly, adding: "We know Real Madrid will make an offer too."
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