Chelsea Completes £54m Deal for Wolves Forward Pedro Neto

Chelsea have officially secured the signing of Wolverhampton Wanderers forward Pedro Neto for a fee of £54 million.

The 24-year-old Portuguese international has agreed to a seven-year contract with Chelsea, which will keep him at Stamford Bridge until 2031.

Neto was introduced to the Chelsea fans at halftime during a friendly match against Inter Milan on Sunday. Speaking about his move, Neto said, "I feel really grateful to have joined this club. I have worked really hard in my career to be here, and I'm looking forward to getting on the pitch with this shirt."

Chelsea reached an agreement with Wolverhampton Wanderers on Friday after two previous bids were turned down. The deal includes an initial payment of £51.3 million, with an additional £2.6 million in potential add-ons.

Neto, who joined Wolves from Lazio in 2019, made 135 appearances and scored 14 goals during his time with the club. The transfer marks a record sale for Wolves, surpassing the £47 million received from Al-Hilal in 2023 for Ruben Neves.

Neto's signing brings Chelsea's summer transfer spending to approximately £185 million. Other new additions to the squad include midfielders Kiernan Dewsbury-Hall, Renato Veiga, and Omari Kellyman; goalkeeper Filip Jorgensen; defenders Tosin Adarabioyo, Aaron Anselmino, and Caleb Wiley; winger Estevao Willian; and striker Marc Guiu.

Chelsea is also reportedly pursuing further signings, with Atletico Madrid's forward Samu Omorodion and Genk's goalkeeper Mike Penders as potential targets.