The 19-year-old winger ended one of the summer's most intense transfer sagas by completing his move to the French club for a reported fee of €44m..
With Lucas demanding such a price, the Peixe supremo has declared that the potential value of his side's superstar, Neymar, is incomprehensible.
"I am adamant in saying that Neymar is priceless," Alvaro told Lance!. "Millions and millions of euro, dollars and reais could not pay for him.
"He is a unique player. [He is] distinguished... [he] is the great idol of Brazilian football, [for whom it is] impossible to negotiate for.
"I also understand that the amount spent for Lucas is deserved. Both are players who represent a new stage of Brazilian football. Along with [Leandro] Damiao, they are impressing the world."
Neymar signed a new contract with Santos in December of last year that has a buy-out fee of €65m. This could now be met by clubs such as Barcelona and Real Madrid but Alvaro remains unconcerned and is happy to have the mercurial forward tied down until 2014.
"I do not regret anything. On the contrary, I am even more convinced that the service paid to the history of Santos is priceless.
"We are seeing the affection of the fans, how important it was for the young fans to see Neymar remain at the [Vila] Belmiro. I am privileged to have secured Neymar until 2014, at the end of his contract."
Finally, the president offered his view on the transfer of Lucas to PSG, jokingly saying that he welcomes it.
"Sao Paulo has lost a player who always took great risks against Santos. His trip to Europe is a relief."
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