Chelsea cult icon gives up nearly €10m – Retirement process enters final stage

Former Chelsea midfielder Oscar is edging closer to a contract termination with São Paulo FC after reportedly waiving a substantial sum owed under his deal.

According to Globo Esporte, the 34-year-old has given up around R$53m. That equates to roughly €9.8m (£8.4m) based on current exchange rates. However, he is still seeking payment of more than R$7m – around €1.3m (£1.1m).

The outstanding amount relates to unpaid image rights and a signing bonus, known in Brazil as “gloves”. Initially, Oscar wanted the amount paid in full. He has now agreed to receive it in instalments until the end of 2027.

Financial picture breakdown

From Oscar’s camp, the position is clear. They believe he could legally demand the full value of his contract, which runs until December 2027 and totals around R$53m (€9.8m / £8.4m).

Instead, the former Chelsea cult icon is only asking for the portion corresponding to the period before he suffered a medical incident in November last year. In other words, he is not pursuing the remaining years in full.

São Paulo do not confirm the figures. The club consider the contract “suspended” since the end of 2025. Talks between executive director Rui Costa and agent Giuliano Bertolucci are described as progressing well. The club also reportedly owe commission payments to intermediaries.

Health conditions explained

As we covered at the time, Oscar collapsed during pre-season tests at São Paulo’s training ground. He was taken to the hospital and diagnosed with vasovagal syncope – a temporary loss of consciousness caused by a drop in blood pressure and heart rate.

Doctors indicated the condition carries no risk of death. However, it requires monitoring. Oscar followed a recovery protocol and returned to the training centre briefly, but he ultimately opted for retirement.

For Chelsea supporters, this is a sobering development. Oscar remains fondly remembered at Stamford Bridge for his role in the 2012-13 era, including his Champions League-winning season.

Now, attention turns to next week’s meeting. If the parties agree on the €1.3m (£1.1m) settlement structure, his São Paulo chapter will formally close – and with it, the final contract of a player many in west London still regard as a cult favourite.