Santos president Luis Alvaro de Oliveira Ribeiro has confirmed five clubs in Europe have agreed to pay Neymar's €45 million release clause.
The clubs - named in widespread reports throughout Brazil as Real Madrid, Barcelona, Chelsea, Manchester City and Russian side Anzhi Makhachkala - will now be given permission to speak to Neymar.
"We don't want to sell the player, but of course there is a release clause in his contract that can be paid," he told ESPN Brasil. "Five European clubs have offered to match the clause.
He added that the clubs have behaved ethically. They sought out Santos first and were willing to pay the clause.
Chelsea had seen a number of bids rejected for Neymar last summer before the 19-year-old Brazil international signed a new long-term deal with the club.
Ribeiro added: "Last year, Chelsea's attitude was different. Their first action was to seek out the player's representatives."
The news comes just a day after Ribeiro said Neymar wanted to become the best player in the world while remaining in Brazil, and he remains confident that the forward will opt to stay at Santos.
"It is becoming increasingly difficult for him to move on," he said. "These clubs can come and make their offers, but if he wants to stay at Santos then he'll say no and stay at Santos."
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