Santos president Luis Ribeiro confident Barcelona & Real Madrid target Neymar will sign contract extension

The Copa Libertadores holders' supremo expects the young attacker to sign a new deal with his current club rather than move to Spain
Santos president Luis Ribeiro has stressed that there is a good chance that Neymar will sign a new contract with the Brazilian giants.

The 19-year-old forward has caught the attention of clubs such as Barcelona and Real Madrid with his impressive performance, but Ribeiro is determined to hold on to his star player.

Neymar's current contract runs until August 2015, but Ribeiro is confident that the young Brazil international will soon sign a new and improved deal.

"He is closer to a contract extension than to a move abroad," the Santos president said to Sport. "He will sign a new contract. He has a very good salary at Santos and we're confident that he will stay in Brazil.

"We expect him to sign shortly. We are working hard on this and expect news in the near future."

Ribeiro then discussed the rumours that Neymar has allegedly signed a pre-contract with Madrid, making it clear that there's no truth in those reports and that he's ready to report the Santiago Bernabeu side to Fifa if it turns out there is a pre-agreement after all.

"Neymar hasn't signed anything with another club as that would be illegal. He has an ongoing contract with us and I'm sure that [Real Madrid president] Florentino Perez wouldn't do anything like this as he knows the potential consequences.

"We will not hesitate to report them to Fifa if there's proof that there's a pre-contract, but I don't think we have to go that far, because there's no signed pre-agreement."