Santos continues to delay player salary payments, while simultaneously bearing a debt of over $185 million.
According to Globo, Santos lacks sufficient cash flow to pay the June salaries for the players on time. This is not the first time the team has fallen into this situation. Back in May, the club also paid salaries late and only completed the payment after one day.
Not only salaries, Santos also currently owes the players two months of image rights money. This issue occurred earlier this year and has not been completely resolved to date, causing the team’s financial situation to continue being a concern.
This is a shock to the Santos players, especially Neymar, the club’s biggest star. Back in January, the Brazilian striker had just extended his contract with Santos until the end of the year.
Brazilian media once revealed that the cost for Santos to retain Neymar was said to be “equivalent to the salary of about 4-5 regular players each month”. In addition to salaries, Santos also signed an image rights exploitation agreement with NR Sports, a company owned by Neymar’s parents.
Santos’s delay in paying salaries and image rights money could cause the team to face legal troubles related to Neymar’s family company.
According to local sources, Santos’s total debt has now surpassed the $185 million mark. The huge debt forces the club’s board of directors to actively seek additional capital sources in order to stabilize operations and fulfill financial obligations to the first team.
