Santos have rejected a bid from Chelsea for Brazilian teenage starlet Neymar.
The Brazilian club confirmed on its website that it received an offer for the 18-year-old which they then refused.
The offer is believed to be in the region of £20m.
Neymar has made 74 appearances for Santos, scoring 40 goals. He has played for the Brazilian U-16s and U-17s but has yet to make an appearance for the national team.
Neymar is believed to have a buy-out-clause of £35 million.
