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

Neymar Santos Sr., owner of NR Sports, announced the acquisition at the Pelé Museum in Santos, the coastal Brazilian city made famous by the legendary late player.

“We are proud to reach this milestone,” Santos Sr. said, adding, “I think it’s a very strong brand. We want to enhance its identity and bring it into the present.”

The terms of the purchase were not disclosed due to confidentiality agreements with the previous owner, US-based Sport 10, but Brazilian media reports said the deal was worth $18 million.

Widely considered to be one of the greatest footballers of all time, Pelé, born Edson Arantes do Nascimento, helped lead Brazil to three World Cup victories in 1958, 1962 and 1970.

Although the Brazilian legend died in December 2022, his daughter Flavia attended the ceremony to mark the brand’s transfer to its new owners.

“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 honoured and happy,” she told AFP.

In a statement, NR Sports described the acquisition as a “repatriation” of “one of the greatest symbols in the history of global sport.”

“It represents a decisive step towards the preservation, expansion, and enrichment of the legacy of the King of Football,” the company said.