Barcelona president Josep Maria Bartomeu says he never had doubts about Neymar's commitment.
He explained to RAC1 the terms were agreed months back and said that Neymar's father respected the verbal agreement.
"We didn't suffer with the rumours because we had an agreement closed with Neymar months before the deal was announced and his father respected that," Bartomeu said.
"He's one of the best players in the world and he's here for many years."
Neymar's thought to have become the second highest paid player in the squad now and Bartomeu added that the club are more than able to afford it.
"The club are in a good moment economically, so the renewal didn't cause any problems," he said.