Chelsea sign Pedro Neto from Wolves on seven-year deal for £54m

On August 11th, 2024, Chelsea Football Club announced the signing of Portuguese winger Pedro Neto from Wolverhampton Wanderers.

The transfer fee for the 24-year-old is reported to be £54 million, with an initial payment of £51.4 million and an additional £2.6 million in potential bonuses. Neto has signed a seven-year contract with the West London club.

Pedro Neto was introduced to Chelsea fans at Stamford Bridge during halftime of a pre-season friendly against Inter Milan. Expressing his excitement, Neto stated, "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."

Neto's move to Chelsea marks the club's ninth signing of the summer transfer window, pushing their total spending past the £200 million mark.

Other new additions to the squad include Omari Kellyman from Aston Villa, Tosin Adarabioyo from Fulham, Marc Guiu from Barcelona, Kiernan Dewsbury-Hall from Leicester City, Renato Veiga from Basel, Caleb Wiley from Atlanta United, Filip Jorgensen from Villarreal, and Aaron Anselmino from Boca Juniors.

The Portuguese international, who joined Wolves from Lazio in 2019, scored 14 goals in 51 Premier League appearances despite suffering from multiple injuries that limited his playtime. Neto has also been capped ten times by Portugal and was part of their Euro 2024 squad.

Chelsea's new manager, Enzo Maresca, will be looking to integrate Neto into the team ahead of their Premier League opener against Manchester City next weekend. The club is also reportedly interested in adding Atletico Madrid striker Samu Omorodion to their attacking ranks alongside Neto.

Wolverhampton Wanderers released a statement acknowledging the transfer, describing it as "the right deal at the right time" and indicating that they are actively working on options to replace Neto.