Chelsea have officially signed winger Pedro Neto from Wolverhampton Wanderers in a deal worth €60 million (£51.4 million; $65.5 million), with an additional €3 million in potential bonuses.
The 24-year-old Portuguese international has inked a seven-year contract after successfully completing his medical on Saturday.
Neto expressed his excitement about joining the west London club, saying, “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.”
The new signing was seen at Stamford Bridge on Sunday, where he watched Chelsea’s final pre-season match against Inter Milan.
Neto’s move to Chelsea comes after a period of intense interest from several Premier League giants.
Arsenal initially pursued the winger in the summer of 2022, but no deal materialized.
This year, Neto was again linked with Arsenal, as well as Liverpool, Manchester City, and Newcastle United, before Chelsea secured his signature.
Neto’s 2022-23 season with Wolves was marred by hamstring injuries, limiting him to just 20 Premier League appearances.
Despite these setbacks, he managed to score two goals and provide nine assists, including a key assist in Wolves’ victory over Chelsea in February.
Since joining Wolves from Portuguese side Braga in 2019, Neto has made 135 appearances, becoming a fan favorite at Molineux.
However, his playing time has been limited in recent seasons due to recurring injuries. He has not featured in more than 24 games across all competitions since the 2020-21 season.
Chelsea’s acquisition of Neto is seen as a significant addition to their attacking options, as the club looks to bolster its squad ahead of the upcoming Premier League season.
Neto’s pace, creativity, and versatility on the wings are expected to provide Chelsea with a new dimension in their attack.