Pedro Neto nears move to Chelsea

Chelsea have reached an agreement with Wolverhampton Wanderers for the transfer of Portuguese winger Pedro Neto, valued at €63 million (£54 million).

The deal includes an initial payment of €60 million plus €3 million in add-ons.

The 24-year-old forward will undergo a medical at Stamford Bridge before finalising the move, which will push Chelsea’s summer spending past £200 million.

Since joining Wolves from Lazio in 2019, Pedro Neto has made 135 appearances and scored 14 goals. If completed, this transfer will set a new record for the highest sale in Wolves’ history, surpassing the £47 million received for Ruben Neves’ move to Al-Hilal last summer.

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Chelsea have already invested approximately £140 million in nine new signings this summer, including 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.

If Penders, Omorodion, and Neto all join, Chelsea’s total summer spending could exceed £240 million. The club has recouped approximately £90 million through sales, including Ian Maatsen, Lewis Hall, and Omari Hutchinson, with Conor Gallagher expected to move to Atletico Madrid for £33 million.

The potential arrivals would expand Chelsea’s senior squad to as many as 50 players. Clubs are required to submit a squad list of up to 25 players after each transfer window, although players under 21 are not restricted in number.

Chelsea’s Premier League campaign will commence with a fixture against champions Manchester City.