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  • Agent To Neymar: Grab Your Money, Send It To Tax Havens

Agent To Neymar: Grab Your Money, Send It To Tax Havens

Kelly Phillips ErbSeptember 29, 2015

Footballer Neymar’s agent, Wagner Ribeiro, raised eyebrows yesterday when he took to Instagram to offer a little bit of tax and career advice to his star player. Posting in Portuguese, and addressing Neymar directly, Ribeiro complained about the press, government, and fans who “celebrated the blocking assets that was imposed on you.”
Ribeiro was, of course, referring to the recent legal actions taken by Judge Carlos Muta, a Brazilian judge who charged Neymar with tax evasion for the years 2011 to 2013, ordering 188.8 million reals ($47.75 million U.S.) of his assets frozen (an amount roughly three times more than the amount of tax at issue). The tax at issue is reportedly 63 million reals ($15.93 million U.S.) and is related to Neymar’s transfer to FC Barcelona. The transfer helped Neymar climb the ranks of the soccer elite: in 2015, Neymar was ranked #82 on Forbes’ Celebrity 100 list and #23 on Forbes’ list of the World’s Highest Paid Athletes racking up $14 million in salary and $17 million in endorsements last year alone.
That money is a blessing and a curse, according to Ribeiro, who continued to post to Neymar that “in Brazil, when poor get rich, you have to be dumb. You know ‘you get out of the slum, but the slum does not leave you’?”
Ribeiro went on to lament that “[w]e did everything right and that was his mistake.” He further implied that Neymar’s targeting had political overtones.
He finished up by advising Neymar, first on taxes:

Tip: Grab your money, send it to tax havens, legally of course. Towards this habit of paying taxes in Brazil !! Close your business, the Institute in Long Beach and will enjoy life in the Mediterranean beaches. You and your family.

And then on his career:

But let Neymar play a few more years … and he ends the career in Europe, preferably at Real Madrid.

It’s hard to say which will attract more attention. The tax man is already keeping a close eye on Neymar and his team, with Spanish tax authorities charging Neymar’s club, FC Barcelona, club president Josep Bartomeu, and former club president Alexandre “Sandro” Rosell with tax evasion. FC Barcelona is thought to be worth $3.16 billion, ranked at #2 on Forbes’ list of the World’s Most Valuable Soccer Teams – just behind FC Barcelona’s La Liga rival Real Madrid, exactly where Ribeiro wants Neymar to land.

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Kelly Phillips Erb
Kelly Phillips Erb is a tax attorney, tax writer, and podcaster.
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