The 20-year-old is Brazilian soccer’s highest-paid player and next big thing. But he is spending his way into bankruptcy, according to Forbes.
“Just in about two years, Neymar reportedly bought a $750,000 triplex and a $2 million mansion in a gated community, both located in the Northern Coast of the state of Sao Paulo; a $150,000 flat in Sao Paulo, capital district, and a Porsche Panamera Turbo, which came with a price tag ranging from $400,000 to $550,000,” the report says.
“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. But the icing of the cake was his purchase of a ridiculously expensive second-hand Italian yacht, which cost him a reported $8 million, not to mention its maintenance expenses of roughly $120,000 per year and an average decrease in value of 5 percent to 10 percent by year.”
These expenditures would see Neymar fall firmly into the category of “balling out of control,” but that doesn’t necesarily mean he’s heading toward bankruptcy. Santos FC reportedly pays its star forward $4 million per year, and his various endorsement deals pay him another $4 million per year.
Neymar’s father has moved to dismiss speculation that his son’s finances were troubled. He said someone (without specifying who) watches Neymar’s bank account so the soccer star can concentrate on doing what he does best, Xinhua reports.
“I guarantee that the life of Neymar is well looked after,” Neymar da Silva Santos told Tribuna on Tuesday. “There is no way this [bankruptcy] is going to occur.”
To the untrained eye, this may look like a tragic tale waiting to happen. But it lacks some of the hallmarks of other famous rags-to-riches-back-to-rags tales. It’s not like Neymar is known for stumbling out of casinos three or four nights a week. He only has one child to support. He’s not known to wear a lot of jewelry, making it unlikely that he’ll succumb to the plague of wearing too many gold chains (or “over-golding” to the layman). From what we can tell, Neymar likes to buy expensive properties and take the occasional flight on a private jet. Other than that, he likes to sing, dance, score goals and hang out with Pele.
If he gets into a real pinch, he’s always got the “get out of jail free” card in the form of a €58 million ($76.7 million) transfer to a top European club. Or he can call Iverson’s old financial adviser, who reportedly stashed $32 million of the former NBA superstar’s money into an account that he can’t touch until he is 55 years old. It also pays him $1 million annually to hold him over until then.