Chelsea have agreed a deal to sign Pedro Neto from Wolverhampton Wanderers.
The west London side will pay a fee of €60million (£51.4m; $65.5m) plus €3m in potential bonuses to sign Neto, who will undergo a medical shortly.
The 24-year-old made 20 Premier League appearances for Wolves last season amid two spells out with hamstring injuries, registering two goals and nine assists. He returned to fitness at the end of the season and was part of the Portugal squad that competed at the European Championship, appearing in all three of their group-stage fixtures but remaining an unused substitute in their last-16 and quarter-final matches.
Neto joined Wolves from Braga in 2019 and has played 135 times for the Molineux club. Due to injuries, though, he has not played more than 25 games in a season since the 2020-21 campaign.
Neto’s Wolves contract runs until the summer of 2027 after he signed a new five-year deal in March 2022. That summer, Arsenal were in talks to sign Neto with the Portuguese their top target if Ivorian winger Nicolas Pepe left the club. Pepe joined Nice on loan later in the transfer window but Neto remained at Wolves.
In February, The Athletic reported that Arsenal, Liverpool, Manchester City and Newcastle United were all admirers of Neto amid a stellar season with Wolves. He then sustained a second hamstring injury the following month which saw him miss nine Premier League matches and only return as a substitute for Wolves’ final game of the season.
Neto provided an assist when Wolves won 4-2 at Stamford Bridge earlier this year (Alex Pantling/Getty Images)
This summer, Chelsea have so far signed Tosin Adarabioyo from Fulham, Omari Kellyman from Aston Villa, Marc Guiu from Barcelona, Kiernan Dewsbury-Hall from Leicester City, Renato Veiga from Basel, Caleb Wiley from Atlanta United and Aaron Anselmino from Boca Juniors. They have also agreed a deal to sign striker Samu Omorodion from Atletico Madrid for €40m.
So, why are Chelsea going for Neto?
Analysis from Chelsea correspondent Liam Twomey
Chelsea have been looking to bolster Enzo Maresca’s attacking options with a new winger all summer — primarily someone who operates from the left side.
The top target was Euro 2024 star Nico Williams but Chelsea were always aware that the player was inclined to remain in Spain, either joining Barcelona or staying at Athletic Bilbao.
Williams’ €58m buyout clause, which La Liga rules state must be paid in a single lump sum up front, was another stumbling block. Chelsea are paying slightly more for Neto, but his €60m initial fee can be worked into a more favourable payment structure with Wolves.
Neto, a left-footer, is less of a natural fit on the left side but he fits the same profile of a fast, skilful, direct running winger with an eye for goal. The fact that he has experience playing across the attacking line for Wolves will give Maresca more versatility in his attacking combinations.
Muscle injuries are a serious concern with Neto, who has missed 102 matches across the last four seasons, but he has proven Premier League pedigree, is only 24 and is unlikely to be expected to play every game given the depth of Maresca’s squad options at Stamford Bridge.
(Top photo: Naomi Baker/Getty Images)
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