Neymar signs five-year deal with Barca

Brazilian football star Neymar on Monday signed a five-year contract with Spanish powerhouse FC Barcelona and will travel to Spain next week for the official presentation.

The 21-year star, whose full name is Neymar da Silva Santos Junior, announced his choice on his Instagram account Saturday after receiving offers from both the Catalan club and its rival Real Madrid.

"I want to thank the Santos fans for nine incredible years," wrote Neymar, currently a forward for the storied Brazilian team Santos.

Neymar's agent Wagner Ribeiro said his client would be one of Barca's highest paid players, but did not disclose the financial terms of the deal.

"He will earn less than (Lionel) Messi, but he will make close to what (fellow Brazilian star) Kaka makes today," the agent told the Gazeta television channel.

"Neymar is on his way to getting the third or fourth highest salary among Barca players."

According to Spanish media, the transfer was valued at between $51.7 million and $64.6 million.