The chief executive of France's Ligue de Football Professionnel has confirmed that Neymar has no buyout clause in his Paris Saint-Germain contract.
Despite having only joined PSG in 2017 and enjoying a fruitful debut season, the Brazilian has been heavily linked with a move away from the Parc des Princes.
Spanish outlet El Pais had claimed that Neymar had a €300m (£263m) release clause that could be activated in September, but LFP president Didier Quillot confirmed that such clauses are not legal in French football.
"In his contract which is registered with the league, and is official, there is no buyout clause, and secondly these types of clauses are illegal in French football," Quillot is quoted by Marca as saying.
Neymar, who is currently recovering from a foot injury, is believed to be on the radar of Real Madrid.
