MADRID: Barcelona have agreed to pay a fine of €5.5m to the Spanish authorities to settle a tax fraud case over the transfer of Neymar in 2013.

The club had been accused of concealing part of the Brazilian’s transfer fee when he joined from Santos, with several investigations carried out in Spain and Brazil.

However, Barcelona confirmed on Tuesday that their board had approved the agreement at a meeting the previous day.

A statement said: “The board … has decided to approve the agreement presented by the club’s legal services with regard to the case surrounding the signing of Neymar Jr, currently being heard in the Courts of the Province of Barcelona.

“The agreement involves the recognition by the club of an error in tax planning for the signing of the player, for the fiscal years 2011 and 2013, when they did not correctly withhold payments resulting from his incorporation.

“In addition, the club has been exonerated from responsibility for the fiscal year 2014, which was also part of the proceedings.”

All cleared

The vote by Barca’s board approves a pact to absolve both current president Josep Bartomeu and former president Sandro Rosell of wrongdoing with regard to the transfer.

Bartomeu was a vice president under Rosell when Neymar was signed in a complex deal involving multiple contracts.

The tax probe was launched after a club member questioned the figures given for the Neymar deal, with Barca initially saying they had paid €57.1m but later said the cost was nearer €100m.

It was reported last week that Spanish prosecutors want the Brazil captain to face charges of fraud and corruption over his transfer.

Brazilian investment fund DIS, which held 40 per cent of Neymar’s sporting rights at Santos, said it was deprived of its full share of the transfer as Barcelona had concealed the actual value of the deal.