• Brazilian media say offer was around €20m (£16.9m)
• 18-year-old striker was ignored by Brazil for World Cup

The Brazilian club Santos have said they have rejected a bid from Chelsea to sign the teenage striker Neymar.

The São Paulo club said on their website that the offer was made this morning. Though the club did not reveal Chelsea’s bid, the Brazilian media are reporting it was around €20m (£16.9m). The Brazilian club reiterated they do not intend to negotiate over the 18-year-old player.

Neymar, who is reported to have a €35m buyout clause at Santos, is the most talked-about player in Brazilian football this year. Neymar has played for Brazil’s under-16 and under-17 squads but has not yet played for the senior national team.

Many fans and local media wanted him to play in the 2010 World Cup but he was left out by the coach, Dunga, who lost his job following the team’s elimination in the quarter-finals by Holland.

ChelseaSantosTransfer windowguardian.co.uk

• England international moves to Anfield on a free transfer
• Cole becomes Liverpool’s second signing of the summer

Liverpool today signed Joe Cole on a four-year contract, subject to a medical due to take place “in the next 48 hours”.

The 28-year-old England international has moved on a free transfer after his contract with Chelsea expired at the end of June. He had also been linked with Tottenham Hotspur and Arsenal, who will both compete in the Champions League next season, but has chosen instead to move to Anfield where he becomes the second signing of the summer after Milan Jovanovic, the Serbian winger who joined from Standard Liège earlier this month, also on a free transfer.

The capture of Cole was seen as a key factor in proving to the likes of Steven Gerrard and Fernando Torres, who have both been linked with departures after a disappointing seventh-placed finish in Rafael Benítez’s final season in charge, that Liverpool can still compete for quality signings. He will be seen as a replacement for Yossi Benayoun, the 30-year-old Israeli creative midfielder who has joined Chelsea for £5m.

Hodgson is still on the look-out for a new left-back with Fabio Aurélio having left and Emiliano Insua on the verge of completing his move to Fiorentina. After that the Liverpool manager will hope to secure commitments from Gerrard and Torres about their futures.

The former Liverpool midfielder Jamie Redknapp, whose father Harry was keen on signing Cole for Spurs, said reports the player was holding out for the most lucrative contract were unfair.

“From what I know, compared to other players in the Premier League now, he’s not being greedy at all,” Redknapp told Sky Sports News. “He just wants a good deal and rightfully so – he’s a free agent and he’s worked that situation nicely – but I know he’s not asking for anything astronomical, like what is being portrayed in the press.

“He’s just looking for the right club and he needs to play football now. He missed a lot of time at Chelsea last season with his knee injury and didn’t quite get back to the level he showed previously. He needs to go somewhere, be loved, and play football and get back to being the Joe Cole we all know.”

LiverpoolChelseaTransfer windowSimon Burntonguardian.co.uk