Real Madrid and Chelsea transfer target Neymar is staying in Brazil after Santos declared the striker indispensable.
The 19-year-old was expected to be one of the biggest signings of the off-season transfer window as five European clubs clamoured for his services.
Real Madrid, Chelsea, Barcelona, Manchester City and Russian side Anzhi Makhachkala had all agreed to meet Neymar's 45-million-euro release clause, according to Santos.
The revelation sparked speculation the Brazilian starlet would soon be on his way to Europe, and reports from Spain indicated Real were close to sealing a deal this week.
Meanwhile Free-scoring Porto forward Hulk has hosed down speculation he is about to join former manager Andre Villas-Boas at Chelsea.
Villas-Boas' appointment at the English Premier Club has prompted speculation the Portuguese manager would attempt to sign several of the players that contributed to Porto's league, Europa League and Taca de Portugal treble last season.
But it appears Hulk will not be one of them, having only signed a new contract at the Liga Sagres club in May, with a buy-out clause said to be around 100 million euros.
"To leave Porto now? I am signed for another five years and my future is there," said the 24-year-old Brazilian, who scored 36 goals in all competitions last campaign.
"I wish (Villas-Boas) much luck, except if we play the Blues."
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