The fee obliterates the previous record of 105m euros - worth £89m at the time - that Manchester United paid Juventus for Paul Pogba last summer.
Now, just as the 25 year-old is coming into his prime, he's leaving the club.
The latest development occurred after the Barcelona's star footballer opted to move out from the club after a world record agreement with Paris St-Germain (PSG).
In his four seasons in Spain, Neymar scored 105 goals as Barcelona won the Champions League, Club World Cup, two Spanish league titles and Copa del Rey three times.
Specialist sports lawyer Juan de Dios Crespo arrived with a notary at the league's offices in Madrid early on Thursday in order to deposit the official documentation, including the cheque to release the Brazil international from his current Barcelona deal.
"The ambition of Paris Saint-Germain seduced me, as much as the passion and energy it arouses".
"The LFP supports Paris Saint-Germain and wishes Neymar to join the Ligue 1 championship". "Especially when this club is infringing rules and laws". La Liga rejected the check from Neymar's lawyers to trigger the release clause. But he will be presented to the fans the same day at PSG's ground.
"Neymar thinks he can be the best player in the world", Bechler said.
"His profound culture of victory, his great strength of character and his sense of leadership make him a very great player". Starting today, I will do everything to help my team win, open up new horizons for my club and bring happiness to its millions of supporters around the world.
At the Nou Camp he formed the fabled 'MSN' strike partnership along with Lionel Messi and Luis Suarez that delivered a treble of league, cup and Champions League in the 2014-15 season.
Why? Because of Neymar.
PSG haven't agreed to pay such a massive amount solely for the undoubted attention and shirt sales that their new recruit will garner, but for one of the most gifted players on the planet.
"It's not about Barcelona".
The payment of the clause directly to the club was the second attempt Neymar's representatives had made on Thursday to break his bond with Barcelona.
Neymar had indicated his desire to depart Barcelona, for whom he scored more than 100 goals, on Wednesday. He had called PSG a "state-supported club".
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