Neymar says no

Brazilian superstar in the making, Neymar, has told Chelsea no and will remain at Santos signing a 5 year deal to remain at home. This is a small blow to Chelsea, but Chelsea has enough young players in the organization to recover.
He is still young and maybe a couple more years of seasoning in Brazil may be good for him before he makes his "hopeful" debut in England. It seems like something that may happen but his young age tends to make it seem like the timing just wasnt right.

This one is for Bowers (Chelsea news)

Chelsea will know by the end of the week if Brazilian Neymar will quit his club, Santos, and join the Premier League champions.
Blues chairman Bruce Buck confirmed this week that the club were in talks with Santos and Neymar, 18, is having talks with his family to decide the best course of action.
Neymar made his international debut versus the United States recently and looked every bit of the prodigy he is said to be. He scored a goal and made US defenders look slow and out of form.
The sticking point between Chelsea and Santos is the transfer fee. The Brazilian clus is holding out for 29.6 million pounds as stated in the reserve fee clause in his contract. Chelsea is reportedly offering 24 million so far. I believe that the sides will come to an agreement and Neymar will be a member of Chelsea's squad by the end of the week.