The forward was unveiled at Camp Nou Monday, with the club confirming the financial details behind his transfer fee and buyout clause.
The transfer fee was confirmed by Barca vice president Josep Bartomeu, who also revealed the forward’s buyout clause in his five-year contract has been set at 190 million euros.
Speaking at the player’s presentation at Camp Nou, Bartomeu said the fee, which will give the club full ownership of Neymar, will be paid to Santos and the three other companies who held percentages of the player’s rights.
An advanced payment of 10 million euros has already been made, and the rest will be paid in instalments over the course of the next three years.
While Bartomeu could confirm the total cost of the transfer, he could not specify exactly how much would be paid to each party due to confidentiality clauses.
"Neymar has signed a five-year contract with a buyout clause of 190 million euros," Bartomeu said at a press conference. "The total cost of the operation to sign him is 57 million euros with no payments made to any intermediaries other than the four parties (three companies plus Santos) involved.
"Barcelona now have all the sporting and economic rights of the player.”
Bartomeu said the interest of other clubs, including Real Madrid, had forced the price up from the 40 million euros that club had wished to spend on the 21-year-old Brazil international.
"Neymar wanted to come and it helped even though the figure has ascended our expected level of spending from 40 million up to 57 milloin, a price which rose because of interest from other teams,” Bartomeu said.
“The operation has been made more expensive due to the interest of other clubs that interfered in the signing of Neymar.
"Barca's offer was not the highest of all. Interference from other clubs has pushed up the operation, but we are delighted to have Neymar here.”
Bartomeu also confirmed that the Catalans will play two games against Santos as part of the deal and said he hoped this would just be the start of a fruitful relationship with the Brazilian club.
"It would be perfect if in the future some other Santos players could come to Barcelona," Bartomeu said. “This is a part of the agreement with Santos, if there is a player who can be interesting for the club, they could come to Barcelona.
"We will play two friendlies against Santos - one in Brazil and one here at Camp Nou as part of the deal.”