Chelsea have agreed a £54m deal with Wolves to sign Pedro Neto.
The deal, which was agreed on Friday, is broken up into an initial £51.4m payment plus £2.6m in add-ons.
The player is understood to be travelling to London for a medical. Neto has also been of interest to Tottenham this summer.
Neto had an excellent season for Wolves last season, scoring three goals and registering 11 assists in an injury-hit campaign which saw him miss three months of the season with two different hamstring blows.
The Portuguese winger, who has been capped 10 times by his country and was named in their Euro 2024 squad, is set to join Cole Palmer, Noni Madueke, Mykhailo Mudryk and Raheem Sterling as wide options ahead of the new season.
Neto would become Chelsea’s ninth summer signing – with Kiernan Dewsbury-Hall, Filip Jorgensen, Omari Kellyman, Aaron Anselmino, Renato Veiga, Caleb Wiley, Marc Guiu and Tosin Adarabioyo adding to Enzo Maresca’s squad for the new season.
The Blues are also set to sign Atletico Madrid striker Samu Omorodion in a £34.5m deal, with midfielder Conor Gallagher set to move in the opposite direction in a separate £36m transfer.
Chelsea have also held an interest in Celtic midfielder Matt O’Riley as a potential replacement for Gallagher.
Why Chelsea signed Neto
If Maresca is going to build his Chelsea team in a similar mould to Pep Guardiola at Man City and Mikel Arteta at Arsenal, then Neto is a must-buy.
Both Guardiola and Arteta rely on “one-on-one explorers” down the flanks – Bukayo Saka, Jeremy Doku, Gabriel Martinelli and Jack Grealish spring to mind – and even over an injury-hit spell at Wolves, Neto has proven to be one of the best-attacking wingers in the Premier League in individual running battles.
Last season, Gary O’Neil took the shackles off Neto. “Don’t turn it down, let’s go every single time. Don’t care if you lose it, test him. Let’s go,” said O’Neil last season when asked about his individual instructions to the Portuguese winger.
And Neto obliged. The 24-year-old was constantly involved in one-on-one battles last season but most crucially, there was end product too. Only Kevin De Bruyne averaged more assists per 90 minutes than Neto, who has the luxury of being equally effective on either flank.
With Mudryk, Madueke and Sterling also capable of one-on-one effectiveness, Chelsea look like they have an array of wingers to complement the aggressive style of play Maresca wants.