Chelsea Secures Pedro Neto in £54m Deal from Wolves

Chelsea Football Club has officially announced the signing of Wolverhampton Wanderers winger Pedro Neto for a reported £54 million. The 24-year-old Portuguese international has committed to a seven-year contract with the London club after successfully completing a medical examination. The deal, which follows two rejected bids from Chelsea, is structured with an initial fee of £51.3 million, supplemented by potential add-ons totaling £2.6 million. Neto expressed his excitement about joining Chelsea, stating, “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.” His arrival marks the tenth signing of the summer transfer window for Chelsea, which has seen significant investment in player acquisitions under the management of Todd Boehly and his team. The club has spent over £200 million this transfer window, bolstering its squad with new talent, including midfielders Kiernan Dewsbury-Hall and Renato Veiga, as well as several defenders and a goalkeeper. Despite this spending spree, Chelsea has managed to recoup approximately £90 million through the sales of homegrown players, with further departures expected, including Conor Gallagher's anticipated move to Atletico Madrid for £33 million. Neto's transfer also sets a new record for Wolverhampton, surpassing the previous record held by Ruben Neves' sale to Al-Hilal for £47 million last summer. As Chelsea approaches a squad size nearing 50 players, they must navigate the Premier League's 25-player limit ahead of the season's conclusion.