Real Madrid will not shell out a world-record €400 million transfer fee for Neymar, according to La Liga president Javier Tebas.

Speculation is ongoing that the Whites will sign the Brazilian icon this summer in a huge transfer but the man in charge of the Spanish top-flight feels Los Blancos are not in a position to virtually double the transfer fee in which Paris Saint-Germain paid to Barcelona last summer.

“Real Madrid aren’t going to pay the €400m needed for Neymar,” 55-year-old Tebas is reported as saying by Marca.

However, he did also state that if any team was to break the glass ceiling with such a deal, it would be the Whites.

“The numbers that they generate can put them close to being able to undertake such a signing,” he added.