Barca fined in Neymar tax fraud case

Barcelona have agreed to pay 5.5million euro in fines to Spanish authorities to settle a tax fraud case involving their transfer of Brazil international Neymar in 2013.

Barcelona were accused of concealing part of the 24-year-old's transfer fee after his move from Brazilian club Santos to the Nou Camp outfit. Several investigations were subsequently carried out in Brazil and Spain.

Spanish news agency Efe last week reported on the settlement, with the club confirming in a statement this week that the board had approved the agreement at a recent meeting.

"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," read the club's statement.

"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."

The tax probe was launched after a club member questioned the figures given for the Neymar deal. Barca initially said they paid 57.1million euro but later said the cost was nearer 100million euro.

The vote undertaken by the board of directors at the Primera Division champions aims to acquit both current president Josep Bartomeu and former president Sandro Rosell of all wrongdoings with regard to the transfer.

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