Neymar could remain in Brazil after 2014, insists Luis Alvaro

With speculation continuing to mount over the future one of South America's hottest talents, the club chief has revealed that the 20-year-old could extend his contract with Santos

Santos' chairman Luis Alvaro has said talks are underway with Neymar regarding a renewal of his current deal which would keep him at the club beyond 2014.

The 20-year-old is thought to be touted by Europe's elite, including Barcelona and Real Madrid.

But, speaking to Brazilian reporters, Alvaro claimed the South American footballer of the year could be staying put.

"We are already talking about the chance of getting a new deal for him [Neymar] and it is a dream of mine to keep him here," Alvaro said.

"I also think he is happy with his big salary here and he certainly deserves it."

Neymar refused to reveal the details of the talks between him and Santos telling the press: "I have another year and a half left in my contract, so I'll keep quiet. But yes, there are talks."