From Windass to Neymar - The Rebuild of Santos

Santos FC has been a case study in mismanagement over the last three or four years. They showed a lack of ambition with the funds from Neymar’s money-spinning move to Barcelona, making poor transfer moves, and persistently failed to strengthen required areas in the squad.

Santos were two time champions of the Brazilian Serie A and winner of seven Paulistao championships since the turn of the century, and should have been competing at the top end of the best league in South America. That is why much of the footballing world was shell-shocked when the club that produced Pele and Neymar fell into the Brazilian second division in 2023, for the first time in their history.

However, the tide seems to be turning for the “Peixe”; They have managed to resign a modern footballing deity in a repatriated Neymar, and following promotion back to Brazil’s top flight in November, they have their eyes set on once again being considered as Brazil’s top team.

It hasn’t been an easy road back though. From targeting an unlikely English Championship star to being unable to pay player wages, here is the story of the rebuild of Santos FC.

Transfer History

Santos brag an extraordinary list of players who have represented them down the years; Pele, Carlos Alberto, Robinho, Socrates and of course Neymar have all worn the famous black and white stripes, and each of them have brought success and notoriety both to the City, and some were talented enough to do the same for the country.

However, after their relegation to Serie B, Santos' draw as a football club suddenly became tarnished. Their players were unheard of, and it was feared that if the club couldn’t sign any notable names they would be stuck floundering the second division. Fortunately they brought in enough quality, low-cost players to limit their stay to a single season, something all fans of the club will be grateful for.

Their fall in reputation has led to some strange transfer rumours. As recently as January of this year, Santos were showing interest in Sheffield Wednesday striker Josh Windass, son of Hull City legend Dean, who currently has 10 goals in 31 games in the Championship.

Manager Pedro Caixinha and Windass had worked together for a short-spell at Scottish side Rangers, and Caixinha clearly had a reunion on his mind. However, news of club legend Neymar’s mutual contract termination with Al-Ahli in Saudi Arabia quickly turned Santos heads, and the Windass move was thwarted.

Their reputation may be dented, but the prospect is totally different for a player returning to his boyhood club compared to an unaffiliated player moving to a newly promoted Brazilian side.

Quite the saga, and while it could correctly be said that Santos got the better player, it would have been fascinating to see how Windass slotted into the side, possibly benefitting from Neymar's wing-play brilliance to become an unlikely cult hero.

However, their transfer movements don’t stop there. For the first time in years, they are looking to bring in some big names and extra star-power with the signings of highly-rated Porto starlet Gabriel Veron, and the loan signing of the much-touted Chelsea prospect Deivid Washington.

Santos, while still in the doldrums, are using their historical pull in order to attract big name players. They may not be able to pay eye-watering wages, such is the significance of their financial issues, but Neymar took a staggering 99% pay cut in order to play for Santos, indicating that those who care for the club will play for the club.

Financial Issues

However, despite taking a massive pay cut, Neymar is still earning about £32’000 per week, a hefty sum for a league that boasts significantly less prize and sponsorship money than its European counterparts.

It doesn’t help that Santos still have huge debts to pay off. While the exact sum isn’t clear at present, they owed various clubs and players in excess of $130 million Euros at the time of their relegation, and while they have had a season in Serie B to start paying those off, it is clear to see that it is not an issue that will be solved in just one campaign.

In 2015, former players Damião, Arouca, Aranha and Eugenio Mena all took legal action against the club as a result of unpaid wages, an episode which kick-started their serious lack of funding.

And once again in 2020, they received a number of bans from FIFA for more unpaid wages, including a transfer embargo, which forced them to play a number of academy products, including 15-year-old Angelo, who now plays for Al-Nassr in Saudi Arabia.

2023 opened people's eyes to just how much trouble the club was in. The club was forced to sell many of its established, expensive players, in return picking up a remarkable 23 players, almost all of them of a low cost and lower quality. As a result of this careless transfer activity, Santos were relegated at the end of the season.

However, this season has seen a new strategy introduced at the club. Bringing in quality signings like Neymar and Deivid Washington for reasonable wages, Santos are trying to build a team that can immediately establish themselves back in the top flight.

With a number of these players set to increase in value over time, Santos are looking to the future, as when they sell them, a significant chunk of the income will go towards paying off their hefty debts.

So while it is not a conundrum that can be solved immediately, it shows that long term planning can solve many short-term issues, and for now at least, the weight of the clubs debts has been temporarily relieved.

Can Santos Win the Serie A?

While it is too soon to say, Santos are certainly building a squad capable of doing so. Early signs are good; they sit top of group B in the Paulistao, and with Neymar returning to the pitch in Santos colours for the first time in 12 years last night (and impressing), the outlook is positive.

However, the Serie A is a whole different beast. A fiercely competitive league with a long history of controversy, and a reputation for playing dirty, it will be a fascinating story to watch unfold as Santos try and reacquaint themselves with Brazil’s top flight.

We have seen in the past that high-profile players returning to their boyhood clubs can rapidly turn their fortunes around. The Peixa will have their fingers crossed that Neymar’s second coming produces a similar revival.

If there is one thing we can be certain of, it is this: Santos are back where they belong, and Brazilian football is better off for it.