Chelsea Football Club has reached an agreement for Wolverhampton Wanderers forward Pedro Neto, with the deal valued at nearly £54 million. The 24-year-old Portuguese winger is expected to undergo a medical examination before completing his transfer to Stamford Bridge, marking Chelsea’s summer spending to exceed £200 million.
The agreement with Wolves consists of an initial payment of £51.3 million, supplemented by an additional £2.6 million in potential add-ons. Chelsea’s pursuit of Neto followed two rejected bids, including a player-plus-cash offer earlier in the week that included David Datro Fofana and Trevoh Chalobah, as well as a straight cash proposal that was turned down on Thursday evening.
Since joining Wolves in 2019 from Lazio, Neto has made 135 appearances and netted 14 goals. If finalized, this transfer would establish him as Wolves’ record sale, surpassing the previous record held by Ruben Neves, who moved to Saudi Arabia’s Al-Hilal for £47 million last summer.
Chelsea’s aggressive spending continues this transfer window, having acquired nine players for approximately £140 million. The new 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.
Additionally, the Blues are close to signing their eighth senior goalkeeper, Mike Penders, for £17 million, though he is likely to be loaned back to Genk. Chelsea is also in negotiations to bring Atletico Madrid forward Samu Omorodion for £34.5 million. If all three players join, Chelsea’s total summer signings would rise to 12, bringing their expenditure to over £240 million.
The club has recouped around £90 million through the sales of Ian Maatsen, Lewis Hall, and Omari Hutchinson, with Conor Gallagher anticipated to move to Atletico Madrid for £33 million.
The potential arrivals of Penders, Omorodion, and Neto would increase Chelsea’s senior squad to as many as 50 players. Each Premier League club must submit a squad list containing a maximum of 25 players following the closure of the transfer window, but teams can include an unlimited number of players under the age of 21.
Chelsea’s recruitment strategy emphasizes youth, with confirmed summer signings averaging approximately 20.5 years old. While the club has added senior players like Adarabioyo, 26, and Dewsbury-Hall, 25, the preference remains clear for acquiring talent under the age of 23.
Since the transition from the Roman Abramovich era to the Todd Boehly-led consortium two summers ago, Chelsea’s spending has exceeded £1.5 billion. This recruitment approach will be put to the test under new manager Enzo Maresca as the Premier League season kicks off next weekend.
