What We're Reading

Neymar the big spender

  • Forbes, Friday, August 24, 2012 3:10 PM

Anderson Antunes wonders whether young Brazilian superstar Neymar is spending his way to bankruptcy.

Within two years the 20-year-old reportedly bought a $750,000 triplex and a $2 million mansion in a gated community, both in the Northern Coast of the state of Sao Paulo; a $150,000 flat in Sao Paulo, and a $150,000 Porsche Panamera Turbo. He also gave the 18-year-old mother of his only child a penthouse worth about $1 million in Santos, plus $15,000 per month in child support. His purchase of a second-hand Italian yacht cost him a reported $8 million, not to mention its maintenance expenses of roughly $120,000 per year.

Neymar is taking home a salary of about $4 million annually from Santos, where he's under contract through 2014. He earns another $4 million with sponsorships, including Nike ($1 million per year), Red Bull and a handful of other Brazilian companies.

"No doubt he’s probably overspending,” Forbes’ sports writer Christina Settimi says, also noting that his club could have something to do with that. “I wouldn’t put it past Santos to be supporting the behavior to keep him there. One of my UK sports sources says they want to keep him from going to Europe and have been bending rules to make him happy."

Read the whole story at Forbes »

Next story loading loading..