Chelsea secures €63 million deal for Wolves’ Pedro Neto

An agreement has been reached between Chelsea and Wolverhampton Wanderers for the transfer of Portuguese winger Pedro Neto, who is valued at €63 million (£54 million).

The deal includes an initial payment of €60 million, with an additional €3 million to be paid in add-ons.

The 24-year-old forward is set to undergo a medical examination at Stamford Bridge before the move is finalized. Once completed, the transfer will push Chelsea’s summer spending beyond £200 million.

Since his arrival at Wolves from Lazio in 2019, Pedro Neto has made 135 appearances and scored 14 goals. This transfer, if finalized, will set a new record for the highest sale in Wolves’ history, surpassing the £47 million received for Ruben Neves’ transfer to Al-Hilal last summer.

Chelsea has already invested approximately £140 million in nine new signings this summer. These signings 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.

If additional signings, including Neto, Penders, and Omorodion, are completed, Chelsea’s total summer spending could exceed £240 million.

Through player sales, Chelsea has managed to recoup approximately £90 million. Among the players sold are Ian Maatsen, Lewis Hall, and Omari Hutchinson. Additionally, Conor Gallagher is expected to join Atletico Madrid for £33 million.

The potential new arrivals would expand Chelsea’s senior squad to nearly 50 players. Premier League clubs are required to submit a squad list of up to 25 players after each transfer window, though players under 21 years old are not restricted in number.

Chelsea’s Premier League campaign is set to commence with a fixture against the reigning champions, Manchester City.