Brazil superstar Neymar is closing in on a return to his former club Santos, sources told ESPN on Sunday.

Neymar remains on the roster of Saudi Arabian club Al Hilal, but the team’s manager Jorge Jesus said earlier in January that the Brazilian attacker can “no longer play at the level we are used to,” and wasn’t registered to play in the Saudi Pro League, leaving Neymar eligible to play only in the Asian Champions League.

As a result, Neymar has been looking for his next playing opportunity, and appears to have found it with the club with which he began his professional career.

Sources tell ESPN that Neymar’s contract with Al Hilal likely will be terminated, but the final details are still being negotiated. The two sides are expected to meet early this week with the hope of reaching an agreement. If that occurs, Neymar is set to sign a six-month contract, which will have an option to be extended an additional year, with Santos.

If the deal with Santos is completed, Neymar is set to travel to Brazil this week, and could play for Santos as soon as Feb. 5.

By terminating his Al Hilal contract, which ran through this summer, Neymar would walk away from about $65 million.

Sources told ESPN he could make up at least some of the shortfall by having himself and his father, Neymar Santos Sr., become part of an investment fund that includes shares in Santos.

However, ESPN Brazil is reporting that Neymar is still determined to recoup the money from Al Hilal and that any deal involving shares in Santos would be extremely difficult to execute in the short term.

Brazil star Neymar is hoping to have his contract with Saudi side Al Hilal terminated this week. Francois Nel/Getty Images
So, though the framework for a return to Santos is in place in principle, there are still sticking points.

If his return to Santos is completed, it will conclude a transfer saga that included the possibility of Neymar heading to MLS side Chicago Fire FC. However, Neymar’s preference was to return to Brazil to regain his form and possibly reclaim his place with the national team.

Neymar, 32, endured a difficult spell with Al Hilal after joining the Saudi Arabian club from Paris Saint-Germain in the summer of 2023 for a fee of $97.6 million.

The former Barcelona star suffered a torn anterior cruciate ligament in his left knee while on international duty shortly after joining Al Hilal. He returned to the field last October, but a hamstring injury kept him from making more of a contribution. He made just seven league and cup appearances with just one goal scored in an AFC Champions League group stage match against Nassaji Mazandaran on Oct. 3, 2023.

Despite his struggles in Saudi Arabia, Neymar remains one of the biggest names in the sport thanks to his exploits alongside Lionel Messi and Luis Suárez while with Barcelona from 2013 to 2017. In that time, he was part of sides that won a UEFA Champions League crown, two LaLiga titles, and three Copa del Reys.

He later moved to PSG in 2017 and won five Ligue 1 titles, three Coupe de Frances and two Coupe de la Ligues.

Neymar began his professional career with Santos in 2009, leading them to a Copa Libertadores triumph in 2011, when he scored in the second leg of the final, a 2-1 win over Peñarol.

At the international level, Neymar has appeared 128 times for Brazil, scoring a Selecao record 79 goals. He was part of the Brazil side that won the gold medal at the 2016 Summer Olympics, which Brazil hosted.