The iconic footballer Pelé’s brand has officially come under the ownership of the family of another prominent Brazilian athlete, Neymar Santos Jr., after the company owned by Neymar’s father announced on Tuesday that it had purchased the rights to use the brand.

Neymar Santos Sr., who is the owner of the company NR Sports, announced the news publicly at the Pelé Museum in Santos, which is the coastal Brazilian city made famous by the legendary late player.

Santos Sr. expressed pride in the acquisition, stating, “We are proud to reach this milestone,” and further added his plans for the brand, saying, “I think it’s a very strong brand. We want to enhance its identity and bring it into the present.”

The specific terms of the purchase were not officially disclosed, a condition attributed to confidentiality agreements with the previous owner, the US-based company Sport 10. However, media reports in Brazil suggest that the deal was valued at $18 million.

Pelé, born Edson Arantes do Nascimento, is widely considered to be the best soccer player of all time, having helped lead his home country of Brazil to three victorious World Cup campaigns in 1958, 1962, and 1970.
Although the Brazilian legend passed away in December 2022, his daughter, Flavia, was present at the ceremony celebrating the brand’s new owners.

Flavia shared her deep emotional connection to the event, telling AFP, “There are no words to describe the emotion of bringing back a brand that is the soul, humanity, love. It’s priceless…as his daughter, I feel honored and happy.”

In a formal statement, NR Sports described the acquisition as a “repatriation” of “one of the greatest symbols in the history of the global sport.” The company emphasized the significance of their new ownership.
NR Sports concluded its statement by affirming, “It represents a decisive step towards the preservation, expansion, and enrichment of the legacy of the King of Football.”