The article in 'El Pais' claimed that a release clause -- worth no less than €300million euros but whose exact value depended on certain results - could be activated from September 1 if the Brazilian star wanted to leave PSG.
Neymar moved to Paris last August from Barcelona when the French club activated his release clause at the Camp Nou by paying €222million, making him the world's most expensive player.
But while such release clauses are commonplace in Spanish football, the French LFP's rules forbid their existence.
"Club directors cannot draw up contracts with a 'release clause', providing for a contractual relationship to be broken by one party or another in exchange for compensation, a 'termination clause' or a clause allowing for unilateral termination with a French or foreign player, either for the club or the player," according to the rule in question.
A spokesperson for the LFP told 'AFP': "There is therefore no such clause in the player's contract ratified by the legal commission of the LFP." Simply put, relase clauses are illegal in France.
Rumours that Neymar could leave PSG for Real Madrid in the next transfer window continue to abound while the player himself remains in Brazil, where he has been since undergoing surgery on a fractured foot at the start of last month.
Spanish sports daily 'Marca' have claimed that Neymar could leave PSG in the close season of 2019 for €222million, the same fee for which he arrived from Barcelona.