Real Madrid on verge of completing £48m Neymar deal

Real Madrid are set to complete the £48m signing of Neymar in January - and make the teenager one of their highest-paid players.

Neymar rejected a move to Chelsea in the summer of 2010 and he has since become arguably the world's most sought-after young player.

But, according to reports in Spain, Madrid have now won the Europe-wide chase for his signature and are currently ironing out the details of the deal.

It has been reported that Madrid will pay Santos an initial £20m before the end of the year and pay the rest of the fee in installments.

And the La Liga giants are also ready to hand Neymar a salary which will make him the third-highest paid player in the star-studded squad, behind only Cristian Ronaldo and Kaka.

The contract will also include substantial performance-related incentives and an estimated £2m per season in image rights alone.