Chelsea have secured the signing of Wolverhampton Wanderers forward Pedro Neto for a fee of £54 million.
The 24-year-old Portuguese star has signed a seven-year contract with the Blues, keeping him at Stamford Bridge until 2031.
Neto was unveiled to Chelsea supporters on Sunday during halftime of a friendly against Italian side Inter Milan.
The deal with Wolves was finalized on Friday after Chelsea had two previous bids rejected.
The Blues will pay an initial £51.3 million for Neto, with an additional £2.6 million in potential add-ons.
Neto, who joined Wolves from Lazio in 2019, has scored 14 goals in 135 appearances for the West Midlands club.
This transfer marks a record sale for Wolves, surpassing the £47 million they received from Saudi Arabia’s Al-Hilal for Ruben Neves in 2023.
“I feel really grateful to have joined this club,” said the 24-year-old.
“I have worked really hard in my career to be here and I’m looking forward to getting on the pitch with this shirt.”
He started his career in the youth system of Braga. Pedro’s talent began to shine when he made his first-team debut in May 2017 and scored in a 4-0 victory over Nacional.
At 17 years, two months and five days, he became the third-youngest scorer in the club’s history.
Neto’s arrival brings Chelsea’s summer spending to approximately £185 million.
The Blues have already added several new players to their ranks, including 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.
Chelsea are also hopeful of completing deals for Atletico Madrid forward Samu Omorodion and Genk goalkeeper Mike Penders in the coming days.
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