OFFICIAL: PSG sign Neymar for world record €222m

Paris St-Germain (PSG) have completed the signing of Brazil forward, Neymar for a world record fee of 222m euros (£200m) from Barcelona.

The deal means that the 25-year-old has now become the most expensive player in the world, smashing the previous record set when Paul Pogba returned to Manchester United from Juventus for £89m in August 2016.

It is understood that he will earn 45m euros (£40.7m) a year – 865,000 euros (£782,000) a week – before tax from the initial five-year deal, a total outlay of £400m.

Neymar said he has joined “one of the most ambitious clubs in Europe”.

“I am extremely happy to join Paris Saint-Germain,” said Neymar. “Since I arrived in Europe, the club has always been one of the most competitive and most ambitious.

“And the biggest challenge, what most motivated me to join my new team-mates is to help the club to conquer the titles that their fans want.

“Paris Saint-Germain’s ambition attracted me to the club, along with the passion and the energy this brings. I played four seasons in Europe and I feel ready to take the challenge.

Neymar also posted an emotional farewell to Barcelona on his Instagram, thanking the club and insisting the decision to leave was his own.

“I had the honour of playing with the best athlete I have ever seen in my life and I’m sure that I will never see another one like him while I’m alive, Leo Messi,” Neymar wrote.

“I love Barcelona but an athlete (me) needs challenges. And for the second time in my life I’ll contradict my father. Father, I understand and respect your opinion, but my decision is made and I ask you to support me as you always do.

He later said

“Now in my heart I feel it’s time to leave. PSG will be my home for the next few years.”

The French side have arranged a news conference for 12:30 BST on Friday. Neymar will be introduced to fans on Saturday at PSG’s first game of the season against Amiens at Parc des Princes.